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China's A-share market was the highest performing stock market in the world in 2019, rising 31 percent compared to 22.3 percent for the US' S&P 500 index, 8.5 percent for the UK's FTSE 100 and 11.5 percent for Japan's Topix index－though, of course, past performance does not promise future performance in any of these markets. And, the A-share market suffered large losses in 2018. The huge 2019 rise in the A-share market is especially impressive in the face of trade frictions with the US.

China will offer other services, such as scientific research and meteorology, to countries in the region, Wang added.

China's announcement came after the US Trade Representative's office released a finalized list of 16 billion dollars' worth of Chinese goods. The tariff hike will take effect on Aug 23, bringing the total worth of Chinese goods facing a 25 percent tariff to 50 billion dollars.

China will step up efforts to reduce its reliance on fossil fuels and improve its energy consumption mix to ensure improved air quality. It plans to cut carbon emissions per unit of GDP by 60-65 percent by 2030 from 2005 levels, while investing 2.5 trillion yuan (6 billion) in renewable energy by 2020, according to the National Energy Administration.

China's State Council on Friday announced the appointment of Luo Huining as national security adviser to the Committee for Safeguarding National Security of the Hong Kong Special Administrative Region (HKSAR).