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The measures will cover the liberalization, facilitation, promotion and protection of investment, and will also include improving regional opening-up, as well as promoting innovation in national development zones.

The meeting "was positive and fruitful," Wang said, adding that it has set a constructive tone for the development of China-US relations and helped set the direction for collective endeavors.

The meeting would come amid the stalled negotiations between the Democratic People's Republic of Korea (DPRK) and the United States on the peninsula's denuclearization.

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The markets were generally undisturbed by rating agency Moody's move to lower China's credit rating in May.

The ministry made the remarks after White House trade advisor Peter Navarro on Monday accused China of shipping "low-quality and even counterfeit" novel coronavirus antibody testing kits to the US and of "profiteering" from the outbreak.

The ministry said it would select 100 excellent SMEs in 2018 to help them improve innovation capabilities, explore overseas markets, boost corporate management and accelerate digital transformation. The ministry said "little giants" were companies with an annual revenue of 100 to 400 million yuan (.6 million), and annual profit growth of at least 10 percent. More importantly, their R&D or innovation staff must account for more than 15 percent of their total workforce. They also have to possess at least five innovation patents related to products, or 15 design patents.

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The meeting also highlighted the unprecedented challenges in economic growth, saying that difficulties, risks and uncertainties must be fully reckoned with.

The meeting was designed to proceed transparently, engage additional members when appropriate and ultimately lead to advancing ideas and suggestions to the broader WTO membership for consideration and discussion.

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The meeting was held by the Ministry of Housing and Urban-Rural Development, the Ministry of Land Resources and the People's Bank of China.

The metrological authority of Yibin city in the province, for example, issued a blue alert, the lowest in the country's four-tier color-coded weather warning system, at 8 am on Monday, forecasting precipitation of up to 10 centimeters in the next three hours. The authority upgraded the alert to an orange one, the second highest, in the afternoon, saying the rainfall would last until Tuesday.