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China will accelerate the debt-for-equity swaps of qualified companies to reduce high corporate leverage, resolve financial risks and support overall economic growth, the country's top economic regulator said.

China needs to push forward deleveraging with steady progress. The country should let the inefficient, especially the "zombie enterprises", go bankrupt and reshuffle, and let the market play its role, Zhang said.

China will also encourage research and production of drugs in short supply, and give priority to examining and approving drugs and raw materials which are in short supply.

China now accounts for around 70 percent of the US trade deficit. However, the imbalance has not come as a result of unfair policies, but as a natural product of globalization and free trade. Moreover, the US trade deficit is largely exaggerated, and homemade.

China studies are taking root in the Bluegrass State.