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China will adopt a more proactive fiscal policy by expanding central government budget deficit and increasing fund transfers to local governments to boost investment and maintain stable economic growth, according to the 2020 Government Work Report.

China was the top country of origin in both the buying and selling of US commercial real estate last year, according to the 2017 Commercial Real Estate International Business Trends report, which was released on Tuesday by the National Association of Realtors.

China pledged to intensify its fight against counterfeit goods at its roots to further protect intellectual property rights and build a better business environment. This follows achievements in harshly cracking down on fake supplies during the novel coronavirus outbreak.

China will continue to deepen financial supply-side structural reform and improve the policy environment to provide higher-quality and more effective financial services to small enterprises, according to a white paper released by the CBIRC earlier in late June.

China was once considered the "Kingdom of the Bicycle," with bikes dominating city streets across the country. But over the past four decades, China's dramatic increase in economic prosperity and urbanization has seen many people shift to motor vehicles as their primary means of transportation.