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China's Minister of Commerce Zhong Shan said on Sunday that China has no intention to start a trade war with the US and will not initiate one, but the country can cope with any challenge and will defend its national interests.

China will grant more power to pilot free trade zones and explore the opening of free trade ports, according to a key report delivered last week at the 19th National Congress of the Communist Party of China.

China will raise its defense budget by 8.1 percent in the 2018 fiscal year, more than last year's 7 percent, according to a budget report submitted to the top legislature on Monday.

China's annual contribution to global growth surpassed 30 percent in the past five years. The new moves are expected to generate new market demands and create new growth points.

China's FAI saw slower growth in the first seven months of this year, but the overall situation remains steady.