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It was also decided at the meeting that the central government will provide fiscal support, in form of reward rather than subsidy, to the three-year, comprehensive pilot reforms concerning the financial services for private, micro and small firms in some cities.

Local government are required to step up efforts in establishing of the "quarter-hour life circle," and further optimize convenient stores, according to a work meeting held in Beijing.

Efforts should also be made to promote cultural and educational exchanges, deepen understanding of the history and reality of the East and the West, promote mutual learning among civilizations, and consolidate the support for building a community with a shared future for humanity, Wang added.

Liu also stressed on strengthening the communication and cooperations between government agencies and learning successful experiences from leading countries of cultural heritages to improve China's abilities in protecting and inheriting cultural relics.

In three years, while 334,900 workers will gain jobs as a result of the tariffs against China, around 2.5 million workers will lose jobs, seven for every job gained. The tariffs will cost the U.S. economy more than 5.5 million dollars for every job gained, it said.