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China, the European Union and Mexico — the top three markets for US cranberry exports and which together count for more than half of those exports — all are slapping tariffs on the bitter berry produced primarily in the US and Canada.

China's service trade deficit has narrowed significantly, according to Gao Feng, the ministry's spokesman. In July, the figure decreased 30 percent month-on-month and 1.8 percent year-on-year to 141.5 billion yuan (.8 billion).

China's three marine economic circles are set to play a bigger role in the Belt and Road Initiative, with the country's gross ocean output projected to account for 9.5 percent of GDP by 2020, according to an industrial plan.

China's pension funds are in a stable condition and payments are guaranteed, Minister of Finance Liu Kun said at a news conference on Tuesday.

China's real estate sales are expected to revive after COVID-19 is subdued. The expected rejuvenation of the property sector is important as real estate constitutes a key part of the economy, and will contribute to the stabilization of macroeconomy.