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China will finance and own 70 percent of the venture, while Laos will be responsible for the remainder.

China will take necessary measures to ensure Chinese aluminum companies' legal rights, the Ministry of Commerce said on Wednesday after the United States decided to launch for the first time in more than 20 years self-initiated, anti-dumping and countervailing duty cases against common alloy aluminum sheets from China.

China's GDP grew by 4.9 percent year-on-year in the third quarter, faster than the 3.2-percent growth between April and June, suggesting "a rapid return to the pre-COVID trend", according to US economist Stephen Roach, also former chairman of Morgan Stanley Asia, a New York-based investment bank.

China will take fresh steps to tackle technological bottlenecks in crucial electronic components, as it works hard to pursue innovation-driven growth and beef up its manufacturing prowess in the global electronics battlefield, the country's top industry regulator said at the ongoing China Information Technology Expo in Shenzhen.

China will take targeted reciprocal measures against the United States to protect its interests, which may include slapping tariffs on US agricultural products, airplanes, automobiles and computer chips, a former minister said Wednesday morning.