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China's GDP expanded an annualized 6.9 percent in the first three quarters of 2017. Q3 was the ninth straight quarter of growth over 6.7 percent.

China's Minister of Finance Liu Kun said in an interview the proactive fiscal policy will prioritize four areas, namely cutting taxes and fees, improving weak links, boosting consumption, and improving people's livelihood.

China will cut import tariffs on some consumer products by 9.6 percentage points beginning in December, as a measure to satisfy increasingly diversified domestic demand and to facilitate the consumption upgrade, the Ministry of Finance said on Friday.

China will initiate a pilot program to relax foreign firms' ownership restrictions for businesses in its free trade zones that involve new energy and special use vehicles, said the foreign ministry on Thursday.

China's ambassador to the United States Cui Tiankai said that he hoped the meeting between Chinese President Xi Jinping and US President Donald Trump will enable both sides to make further progress on the trade and other issues.