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China will stay committed to advancing reform. Reform is the fundamental driver of China's development. China will only speed up its market-oriented reforms. We will not slow down the pace of reform, let alone turn back. The Chinese government will continue to streamline administrative approval procedures, provide more efficient services, and slash the time required to start a business, get a permit or go through customs clearance. We will introduce tax cuts on a bigger scale and meaningfully lower fees, including the social security contribution rate. The reform to transform state-owned enterprises (SOEs) into standard companies and joint-stock companies has been basically completed. China's SOEs, many of which are publicly listed, run their operations in an open and transparent manner. It is entirely up to them to make their own business decisions, and they are responsible for any profits or losses. They do not enjoy any special subsidies.

China will maintain its monetary policy in the coming months, according to the PBOC official.

China's baby milk sector is still trying to recover from a loss of confidence caused by a safety scandal 10 years ago, as Li Hongyang reports.

China's Foreign Ministry has already urged Sweden to reverse its 5G decision on Chinese companies, to prevent the move from having a negative impact on bilateral trade cooperation and the operation of Swedish companies in China.

China will work to uphold and improve its basic socialist economic system and promote the high-quality development of the economy, said the milestone document adopted at the fourth plenary session of the 19th Communist Party of China Central Committee.