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Large and medium-sized state-owned and state-controlled enterprises at both central and provincial levels, as well as financial institutions, will see 10 percent of their state-owned equity transferred to the National Council for Social Security Fund and relevant local receiving entities who shall, as financial investors, enjoy the right to yields from the transferred equity.

The election of the new Director-General took place during the second day of the biennial FAO Conference, which is the highest governing body of the organization.

It was decided Wednesday that on top of the 35 existing zones, such zones will be launched in more cities in light of local needs. Retail goods that exported from these pilot zones will see their value-added tax exempted in the absence of a valid purchase certificate. Simpler methods for verifying and collecting corporate income tax will be introduced.

The Ambassador said Huawei is the leader in 5G technology. "I do hope that the UK will keep Huawei for the benefit," he said.

BEIJING, June 18 (Xinhua) -- China on Tuesday said its determination to maintain the Joint Comprehensive Plan of Action (JCPOA) is unwavering and is willing to continue to make efforts for the full and effective implementation of the JCPOA.