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China's personal income tax threshold is expected to rise to 5,000 yuan per month from the current 3,500 yuan, according to the draft amendment of individual income tax submitted in mid-June. For the first time, housing rent will be deductible from personal tax, along with the cost of children's education and continuing education, medical fees for major diseases, interest on housing loans.

China, Japan and the ROK are the world's second-, third- and 11th-largest economies, with their total GDP accounting for about 20 percent of global GDP.

Chinese Ambassador Xiong Bo pointed out that it is China's important measure to implement a new round of high-level opening-up, which reflects China's insistence on opening-up and its determined position of firmly supporting economic globalization, the multilateral trading system, and free trade.

China's wine market size is expected to reach billion in sales revenue by 2021 with an average annual growth rate of more than 30 percent, suggesting the strong wine-consumption potential of the world's most populous country, according to a recent report released by Vinexpo, one of the largest global exhibitions for wine and spirits, and the International Wine and Spirit Research.

China-assisted work on Pakistan's first direct current transmission project connecting Murtyari and Lahore has finished. The 878-kilometer-long line is ready to supply bulk power, project executives said. [Photo/POWERCHINA]