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China is ramping up the efforts to further open up its financial sector in a steady manner. The China Banking and Insurance Regulatory Commission announced on Sunday it had granted approval to the Munich-headquartered Allianz SE regarding its application to commence operational preparations for Allianz (China) Insurance Holding Co Ltd, the first foreign-funded insurance holding company in China.

China has pledged to step up reform of State-owned enterprises in the second half of this year, as the SOE regulator plans to carry out the diversification of equity at headquarters or group level, at two to three central SOEs within the year and push forward the strategic restructuring of central SOEs in key industries including further stepping up mixed-ownership reforms, according to the State-owned Assets Supervision and Administration Commission.

China has set 2020 as the deadline to eradicate poverty. Guizhou lifted 1.2 million people out of poverty in 2017.

China is seeking innovation and entrepreneurial talent in Europe to help take its economy to a new level.

China is one of the fastest-growing inbound travel markets to the United States. The US travel exports to China were valued at billion in 2016, and Chinese residents took 3 million trips to the United States in that year, according to the US Travel Association's report in March this year.