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Chen said, "The total population of third-tier cities is about six times that of first-tier ones now. In the future, lower-tier cities with bigger populations will definitely contribute more to consumption upgrading, as the number of consumers, their disposable income and confidence in spending have all been growing."

ChiNext board's new IPO system to boost innovative startups, link capital market to post-COVID economic goals

Cheng Lihua, vice-minister of finance, said taxpayers can deduct 1,000 yuan from their taxable income each month if they have a child older than 3 years, and until children complete their college study.

Chen Mingyong, CEO of Oppo, said the spending will focus on 5G research, 6G, artificial intelligence, augmented reality, and other emerging technologies. Also, it will be used to finance more efforts to develop core fundamental architecture for hardware, and to boost its software capabilities.

Chile is willing to jointly promote free trade with China under the framework of the Asia-Pacific Economic Cooperation, given China's role in promoting economic globalization and trade liberalization, senior Chilean officials said.