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Chinese central bank governor on Friday repeated that there is no basis for continued weakness of the yuan and China will not seek to boost exports through competitive devaluation.

Xi extended greetings to all military personnel in Jiangxi on behalf of the CPC Central Committee and the CMC.

Wang is to talk about China's foreign policy on international and regional issues.

BRUSSELS, Feb. 17 (Xinhua) -- China vowed to take efforts with Europe to make the synergies between the country's ambitious One Belt One Road (OBOR) initiative and the EU's (European Union) 315-billion-euro investment plan a win-win cooperation.

We will actively promote reforms of the fiscal and financial systems. For example, business tax will be replaced with VAT in all sectors, a major step of structural reform that will save businesses more than RMB500 billion in tax. This will not only help us form a consistent tax system and eliminate double taxation. More importantly, it will strongly boost the development of the service industry, especially high-end services, such as R&D, and support the transformation and upgrading of the manufacturing sector. Most enterprises will benefit from the tax reduction to varying degrees, and small and micro businesses will see their tax burden significantly lightened. In times of fiscal difficulties, the government is doing this to release more water to nourish the fish in the pond, i.e. to generate continued momentum of growth with a short-term drop in fiscal revenue. It is also indicative of the room for fiscal flexibility left at our disposal. Let me give you another example. For reforms in the financial sector, we can explore market-based approaches for debt-for-equity swap to help lower corporate leverage ratio.