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China's bioinnovation industry is undergoing a process of gradual upgrade and will be among the world's foremost in the upcoming years, experts said during a recent seminar discussing the prospects and challenges of basic research in China's pharmaceutical healthcare sectors in Shanghai.

China will roll out a slew of policies to further ease the COVID-19 pressure on its exporters, including steps like leveraging existing e-commerce platforms and optimizing the processing trade structure, a senior Commerce Ministry official said on Friday.

China will gradually cut the current 25 percent tariff on imported cars, the foreign ministry said in a news release on Thursday. It also said the government will initiate a pilot program before June 2018 that will relax foreign firms' ownership restrictions for new energy and special use vehicle businesses established in free trade zones.

China will promote greater harmonization of rules for services at the multilateral and regional levels, and work for continued improvement in global economic governance and more inclusive growth of the world economy, he said.

China's bike-sharing market has grown rapidly over the past few years as part of a booming digital economy, but the industry has been condemned for paying little attention to bike management, and disturbing traffic order.