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China's business environment showed one of the strongest improvements worldwide in the 12 months ending May 1 thanks to its robust reform agenda, the World Bank Group said on Thursday.

China's ability to handle medical waste may see further improvements with an impending work plan from 10 ministry-level authorities aimed at boosting medical waste treatment facilities.

China will cut value-added tax rates as part of a tax reduction package amounting to 400 billion yuan (.58 billion) this year to drive high-quality development, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.

China will fight trade unilateralism and protectionism to the end and will not hesitate to pay any price to strike back with possible new and comprehensive countermeasures to defend the country's interests, the Ministry of Commerce said in a statement earlier on Friday.

China's Minister of Commerce Zhong Shan attends a press conference on China's domestic market and all-round opening-up for the second session of the 13th National People's Congress (NPC) in Beijing, March 9, 2019. [Photo by Feng Yongbin/chinadaily.com.cn]