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China has been the top buyer of US soybeans for years. Farmers and traders believe that positive outcome of bilateral talks could lead to higher Chinese demand for US agricultural products.

China announced revised regulations on Friday to implement the new version of the Budget Law, which will take effect on Oct 1. The move underscores the authorities' goals of tightening budget management and curbing risks in local government debt, according to the Ministry of Finance.

China has always viewed relations with Latin American and Caribbean countries from a strategic and long-term perspective and promoted China-CELAC cooperation on the basis of equality, mutual benefit and common development, said Wang Yi at the meeting at United Nations Headquarters in New York.

China has more than 4,000 pharmaceutical producers, of which over 90 percent produce generic drugs.

China feels a great sense of duty, and considers not only its own growth but the sustained development of the world economy, Li said, adding that the country hopes the recent positive momentum of the world economy will be championed.