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China advocates and supports a multilateral trade system, the ministry said, noting that to suspend tariff concession on US imports is a just move to safeguard China's interests using WTO rules.

China also would have higher debt-to-GDP ratio in 2019 due to the slowdown in economic expansion and the easing of fiscal policies, which will likely lead to a rebound of the property sector, liquidity level, and ideally consumption to investment level in 2019, according to Mariscal.

China aims to lift all rural residents living below the current poverty line out of poverty by the year 2020.

China and Egypt enjoy strong and growing ties politically, economically and culturally, as they celebrated the 60th anniversary of their diplomatic ties in 2016, which was marked as the China-Egypt Cultural Year.

China Telecom said in a statement that it carried out outdoor NB-IoT tests in 12 cities in the first quarter. In March, it announced the release of the world's first commercial NB-IoT technology-based smart water project, in partnership with Shenzhen Water, marking a significant step in promoting the commercial use of the NB-IoT.