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China's VAT rate structure was further cut from four to three tiers－set at 6 percent, 11 percent and 17 percent－starting from July 2017, which led to tax cut of 14.7 billion yuan from July to December, according to a State Administration of Taxation official.

China's State Council required all facilities producing inferior-quality steel bars to be dismantled across the country by the end of June, but the inspection found two mills in Tianjin were still in business, while one company shut down in Hunan province was seeking to resume production.

China's ODI fell by 0.6 percent on a yearly basis to 551.51 billion yuan during the first nine months of the year. Chinese companies signed 518 project deals with contract value of more than million each in the first three quarters. The total value of these projects reached 4.88 billion, according to the ministry.

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 expand the importation of high-quality goods from the EU, and the EU should ease its high-tech export controls on China, the paper said.