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China will impose a 25 percent tariff on billion in imports of goods from the United States on Aug 23, the latest countermeasure to defend its legitimate interests and the multilateral trading system, the Ministry of Commerce announced late on Wednesday.

China will continue with stable macro policies and adopt a combination of fiscal and financial measures in an effort to boost domestic demand and bolster support for the real economy, the State Council decided in an executive meeting chaired by Premier Li Keqiang on Monday.

China will take more steps to boost the private sector by lowering the investment threshold in emerging industries, a senior official with the nation's top economic regulator said on Saturday.

China's Canton Fair, the world's biggest trade show, has demonstrated the country's resilient export capability in spite of economic downturn brought by the novel coronavirus outbreak, and China's manufacturing sector, has been playing an unparalleled status in the global market, said a report by The Economist on June 23.

China's biggest electric carmaker BYD launched an unmanned driving system for its monorail in Yinchuan, capital of the Ningxia Hui autonomous region, Jan 10, 2018.[Photo provided to chinadaily.com.cn]