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China's success in promoting growth in selected regions is something the British government can emulate in order to drive development of its Northern Powerhouse proposal, according to the architect of the policy, Jim O'Neill.

China's tourism market is warming up, with effective epidemic prevention and control measures in place. The country saw around 48.81 million domestic tourist trips made during the Dragon Boat Festival holiday in late June, bringing in 12.28 billion yuan (around .74 billion), official data showed.

China's tax revenues can be divided into three categories: central tax, local tax and tax shared between the central and local governments. VAT accounts for the majority of shared tax revenues.

China, EU urge restraint

China's upgrading consumption structure is gravitating the retail industry toward an emphasis on convenience, diversity and hands-on experience, according to Gao.