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China remained one of Austria's top five trading partners, and the trade volume between the two countries surged 16.2 percent year-on-year to .75 billion in 2018, statistics from the Ministry of Commerce show.

China supports development of direct financing to reduce costs of enterprises, allowing them to get funds by issuing shares or bonds, rather than from commercial banks.

China launched value-added tax reform in 2012, and it was extended to the construction, real estate, finance and consumer services sectors in May last year.

China possesses the highest private wealth in the Asia-Pacific region and the second-highest worldwide, according to an annual wealth report that was released on Tuesday by the global management and consulting firm.

China should develop more innovative approaches to agricultural cooperation as a combination of trade and investment to more efficiently boost collaboration on international capacity with Russia, an official said Wednesday at a forum in Beijing.