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China is expected to become the world's largest 5G market before 2025, according to a report by GSMA Intelligence, a think tank of the representative body of the global mobile industry and China Information and Communications Technology Academy.

China hopes to exchange views on relations with the bloc at the upcoming China-EU leaders' meeting and to reach pragmatic outcomes in fields such as bilateral investment treaty negotiation and climate change, the premier said. China also expects to work with the EU in upholding multilateralism; promoting trade liberalization and investment facilitation; and safeguarding world peace, stability and development, he said.

China has typically initiated cabinet structural reforms every five years since the early 1980s. Seven such reforms have slashed a number of ministries and agencies to make the central government leaner and more effective.

China is planning to build a new Free Trade Zone in the Yangtze River Delta region, China Business Network reported on Wednesday.

China is expected to expand the central bank's digital currency pilot programs to a broader range later this year or early in 2021, focusing on retail use. That may replace some functions of bank cards, a former State bank executive said.