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Lucia Pasqualini, Consul General of Italy in Guangzhou, said the ties between Italy and southern China will be further enhanced by sharing common love and passion for food and high-quality cuisine. "If you can not go to Italy this year, we brought Italy to you here," she said at the festival.

Incentives will be put in place for local banks that provide inclusive loans for micro and small enterprises with a deferred repayment period of no less than six months. The incentives will remain at 1 percent of the loan principal.

Mount Qomolangma straddles the China-Nepal border, with its northern part located in Xigaze of southwest China's Tibet Autonomous Region.

According to the decree, 22 administrative regulations have been amended and one abolished. Certain clauses of these regulations were considered in incompatible with the Foreign Investment Law, which took effect on Jan. 1.

Competent departments devised two monetary policy tools this year, in an effort to funnel intensified, direct support for the real economy and help tide businesses over difficulties. That is, the loan extension which encourages local banks (namely, urban and rural commercial banks and rural credit cooperatives) to provisionally defer smaller businesses' inclusive loan repayments with incentives in place, and the inclusive credit loans which provide local banks with concessional funding support.