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China is taking solid steps to expand financial opening-up; to continue to advance opening-up in the service sector; to deepen opening-up in agriculture, mining and manufacturing; and to accelerate the opening-up process for sectors including telecommunication, education, medical treatment and culture, Xi said.

China has resources to carry on reform, says former governor of central bank

China imposed the tariff on US goods such as agricultural, automotive and aquatic products immediately after the administration of US President Donald Trump announced on Friday tariffs on billion worth of Chinese goods. Beijing's quick reaction is an unequivocal manifestation of its determination to safeguard its legitimate interests and fight protectionism.

China is racing to produce several thousands of multifunction ventilators, as demand for the lifesaving machines skyrockets across the world due to the COVID-19 pandemic, the country's top industry regulator said on Monday.

China is expected to stop its subsidies altogether by the end of 2020, and Chen called on authorities to offer non-financial measures to further stimulate the industry.