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China, together with many countries, is working to transform this concept into reality.

China's trade mix continued to optimize with the general trade growing both in volume and proportion in the January-July period. General trade grew 5.7 percent year-on-year and accounted for 59.8 percent of the total trade, 0.8 percentage points higher than the same period of last year.

China's top banking regulator has approved the commencement of business of the first direct bank that will operate as an independent legal entity in China.

China's small and medium-sized enterprises with a strong focus on technology and digital capabilities are expected to recover comparatively quickly from the COVID-19 epidemic, and a great majority of them plan to launch new products or services this year, a new report said on Monday.

Chinese Foreign Ministry spokesman Geng Shuang said the issue was an "individual, normal trade remedy investigation case".