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China will reduce or cancel tariffs on certain imported goods and materials starting in 2021 in a bid to expand imports, boost the domestic market and support the formation of high-standard free trade areas under the country's new "dual-circulation" development paradigm, according to the Ministry of Finance.

China's central bank also started a key interest rate market-oriented reform on Tuesday, which is expected to boost corporate earnings by reducing lending costs and lowering the risk-free interest rate, both of which would be supportive to stock prices.

China will face more pressure from the Western world. In such a scenario, the existing globalization system may face the risk of disintegration, and the global economic model may undergo strategic reorganization, which will undoubtedly have a fundamental impact on the reconstruction of the global industrial chain.

China's Tibet autonomous region has seen significant progress in science and technology over the past 60 years since the launch of the region's democratic reform in 1959, China Tibet News has reported.

China will open its market for import of French pork products, beef and baby milk powder.