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The moves would sharply escalate Trump's trade war withBeijing over his demands for major changes in economic, tradeand technology policy. China has threatened retaliation, whichcould include action against US companies operating there.

The nation's steel consumption is expected to rise 7.7 percent to 725 million metric tons this year amid an improving economy and better performance of major steel consumers, an industry research and planning institute said on Monday.

The move is part of broader efforts by Chinese companies to leverage their technological prowess to help foreign nations in the global battle against the pandemic, as confirmed cases of the deadly virus surge overseas.

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The move came as part of the country's decade-long efforts to deepen offshore renminbi pool by offering diversified investment products.

The move came as China evolves from being a follower into a pioneer in the global telecoms arena and the country's telecom operators scramble to gain a lead in the race to commercialize 5G or the next-generation mobile communication technology.

The move came as the company disclosed that its average monthly revenue has hit 220 million yuan and has achieved profitability when customers bought their product for the first time.

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The nation's banking and insurance regulator will also tolerate higher nonperforming loan ratios for small and micro companies, especially in Hubei province, the epicenter of the outbreak, caused by holiday extensions and lockdowns of affected regions to curb the virus.

The most active soybean contract for March delivery rose 4.5 cents, or 0.48 percent week on week, to close at 9.46 US dollars per bushel. March corn decreased 0.75 cent, or 0.19 percent, to settle at 3.8575 dollars per bushel. March wheat went up 10 cents, or 1.8 percent, to end at 5.645 dollars per bushel.

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The move was in line with the epidemic prevention and control arrangements made by the central and local authorities, according to the ministry.

The multilateral deal, which was approved by the UN Security Council, should be safeguarded and China appreciates all parties' endeavors, including Germany's, to keep this deal working, Li said.