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China would like to cooperate with Western countries, including the US, to strengthen communication, dialogue and cooperation in intellectual property rights protection and work together to crack down on all kinds of infringement and create a good business environment, he said.

China's biggest banks are accelerating their debt-for-equity program to offload distressed debts and to help reduce high corporate leverage.

China will push for the establishment of an anti-drug agency within the Shanghai Cooperation Organization to better fight cross-border trafficking, a senior anti-narcotics official with the Ministry of Public Security said.

China will strengthen its protection and management of intellectual property, accelerate the commercialization process, and help improve global IP protection practices and standards, officials said on Tuesday.

China's GDP, one of the major drivers of global economic growth, rose by 6.7 percent in the first three quarters last year compared with the same period in 2017, according to the National Bureau of Statistics. The nationwide nominal per capita disposable income－which is not adjusted to inflation－rose to 21,035 yuan (,109), an 8.8 percent increase over the same period in the previous year.