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China will do whatever is necessary to stabilize foreign trade and secure supply and industrial chains in the second half of this year amid a world business environment that remains complicated and challenging for companies, the country's top commerce official said.

China will support the purchase of NEVs by the local government and continue to waive purchase taxes for NEVs during the 2018-2020 period to encourage green transportation, the Xinhua-run Economic Information Daily reported.

China's agricultural equipment market is expected to reach billion by the end of 2025, according to the report.

China's annual refining capacity reached 720 million tons by the end of 2016 and the country has 24 large-scale refineries in operation. It owns critical intellectual property and world-class technologies and has significant experience planning and constructing large-scale refineries, the report said.

China will create broader market space for services providers from overseas by removing entrance barriers and making more convenient services available for foreign professionals to start businesses, the Ministry of Commerce said on Wednesday.