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China's approach to address major risks, poverty and pollution, "could set a global standard for using the major challenges of our time as drivers for innovation", said Dennis Pamlin, senior adviser at the Research Institutes of Sweden. "With this new initiative, China could actually shift the global innovation focus."

China's Ministry of Commerce Ministry said Thursday that its trade team would lay the groundwork with their US counterparts in mid-September for the October talks.

China's banking and insurance regulator said on Friday that it will guide more bank lending and insurance capital into key industries including the manufacturing sector, emerging and strategically important sectors as well as smaller and private businesses to support economic growth next year.

China will roll out new measures to attract capital into agriculture, poverty alleviation, environmental protection and other areas, as part of the country's broader push to improve investment efficiency, Meng said at a news conference in Beijing.

China's assistance to Africa is an important part of the healthcare initiative, one of the eight initiatives China proposed at the Beijing Summit of the Forum on China-Africa Cooperation in September 2018, Geng said.