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China will allow a higher ratio of nonperforming loans made to micro-sized and small businesses and lower the financing costs for such businesses to boost entrepreneurship and innovation, the State Council decided at an executive meeting on Wednesday.

China started to impose anti-dumping duties on imported alloy-steel seamless pipes for high temperature and pressure from the United States and the European Union in 2014. In June last year, the commerce ministry adjusted anti-dumping duty rates for producers of such products from these regions.

China overtakes Japan as the largest foreign owner of US treasury securities after increasing its holdings for the fifth straight month to .15 trillion as of the end of June this year.

China stands for building a new type of international relations featuring mutual respect, fairness, justice and win-win cooperation, and it promotes building a community with a shared future for mankind featuring sustained peace and common prosperity, Wang noted.

China should stick to its poverty alleviation target and make continuous efforts in the battle, Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, said on Thursday, National Poverty Relief Day.