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China, on the other hand, is faced with a huge challenge in caring for its rapidly increasing senior population, although it has been ramping up efforts to boost the sector, such as expanding market access, reducing fundraising costs, and cutting tax for home-based senior care service providers.

China's top legislature plans to further improve its legislation and oversight work this year to better support the country's social and economic development, according to its annual work report.

Chinese Foreign Minister Wang Yi said in Beijing on Wednesday that history showed that trade wars were not the correct way to resolve problems. "Especially given today's globalization, choosing a trade war is a mistaken prescription. The outcome will only be harmful," he said.

China's soybean output from October 2017 to September 2018 is expected to grow 12.8 percent year-on-year. [Photo/IC]

China, Japan and South Korea have agreed on Sunday that climate change, air pollution and plastic waste in the oceans are some of the areas they should prioritize in environmental cooperation over the next five years, as a tripartite meeting was held in western Japan's Kitakyushu, Fukuoka Prefecture.