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China has scrapped vehicle and vessel taxes on new energy vehicles and cut them by half on cars with smaller engines, one of the country's latest financial stimuli to cut fuel consumption and encourage cleaner energy use, the Ministry of Finance announced last week.

China is the world's largest car market and the biggest new-energy vehicle market, according to the China Association of Automobile Manufacturers.

China is including domestic processors in its government procurement plans, as the nation steps up to promote the application of homegrown chips in government agencies and State-owned enterprises.

China imported 151 million pounds of California almonds last year, making it the state's third-largest overseas market. The Chinese duty on almonds from the United States has now risen to 50 percent from 10 percent after two rounds of tariffs in April and July.

China has said that its comprehensive retaliation measures will match those of the US both in quantity and quality, as the two largest economies are on the verge of a trade war.