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"On Monday it's the end of a long road for all of us and the beginning of a new journey. We have worked hard over the past few months persuading and engaging people. We have been peaceful, respectful and dignified and what is wanted now is only one push on Monday to vote for ZANU-PF so that we have a thunderous victory in the history of this country," Mnangagwa said.

For the purpose of meeting its political need at home and containing China, the U.S. side produced a whole set of policy logics that distorted the truth of China-U.S. economic and trade relations. As a matter of fact, underlying problems in the American economy and society are purely caused by domestic, structural reasons in the United States. The success of the Chinese economy has never been a success of practicing mercantilism outside China or the success of practicing the so-called state capitalism. Rather it is a success of the commitment to market-oriented reform and continuous opening-up. First, China-U.S. trade imbalance. The U.S. side claims that it has massive trade deficit with China, but its number is over estimated, and the main reason for the deficit does not lie on the Chinese side. Rather it is because saving rate in the United States remains low, the U.S. dollar serves as international reserve currency, and the two countries differ in industrial competitiveness and international division of labor. Besides, the United States, due to its cold-war mentality, imposes restrictions on the export of hi-tech products which has comparative advantage. Second, the so-called theft of intellectual property. The Chinese government already put in place a full-fledged legal system to protect intellectual property rights, allowed judicial system to play a leading role in IPR protection, and promoted the establishment of IPR courts and dedicated IPR tribunals. In 2017, China paid 28.6 billion U.S. dollars worth of IPR royalty, a 15-fold increase from 2001 when China joined the World Trade Organization. Third, the so-call "forced technology transfer". The Chinese government did not make this kind of request to foreign companies, and cooperation between Chinese and foreign companies in technology and other economic and trade field is contract behavior purely based on voluntary principle. Both sides have reaped huge benefit from the cooperation over the years. Fourth, "Made in China 2025" and other industrial policies. Under market economy conditions, these policies implemented by the Chinese government are guiding documents in nature, and are open to all foreign-funded companies. The irony is that the country providing massive trade subsidy in agriculture and manufacturing happens to be the United States itself.

The Monday meeting agreed that a more proactive fiscal policy will be pursued. The government will focus on introducing deeper tax and non-tax fee cuts, and more companies will be eligible for the preferential policies of the additional deduction of R&D spending in taxable income, a policy which is expected to cut another 65 billion yuan of tax within this year on top of an initial goal of cutting taxes and fees by 1.1 trillion yuan this year.

BEIJING, Aug. 3 (Xinhua) -- China on Friday announced its decision to impose additional tariffs of four different rates on 5,207 items of imported U.S. products worth 60 billion U.S. dollars.