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China has made strides in pushing the yuan to become an international currency and liberalizing its capital account, which helped attract foreign capital flows and shore up the yuan's strength.

China has made overseas outsourcing research and development expenditure available to additional tax deduction, as part of its continuous efforts to ease tax burdens on enterprises and promote technology upgrades, said the State Administration of Taxation on Thursday.

China enjoys many advantages of achieving high-quality development such as the world's most complete industrial system and a huge market and talent pool, the meeting noted.

China has actually ramped up purchases of US products in recent weeks, as top trade officials of the two countries had a positive phone call late last month in which they reaffirmed their commitment to the trade deal.

China has been scrambling to catch up to the U.S. cloud computing industry since around 2011, when a report prepared for the U.S. government identified a keen interest in cloud computing from business and military leaders in China. The market for cloud services in China is now expected to reach just over 0 billion in 2020, driven by homegrown startups, multinational corporations, and government agencies.