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The China International Import Expo signifies China’s transition into a consumption-led growth model, in contrast to its previous high growth model fueled by exports. The expo, co-hosted by China’s Ministry of Commerce and Shanghai's municipal government, will be held annually.

The China-proposed Belt and Road Initiative is "a huge opportunity for Oceania, not only New Zealand. [Photo/VCG]

The China Cuisine Association, the country's largest catering union, has established a New Retail Catering Commission to promote the use of internet, data and automation in a bid to digitize the 4-trillion-yuan (5 billion) sector.

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The Cabinet statement said the external environment has become more complicated and challenging, and the economy is faced with mounting downward pressure.

The China Drug Administration ordered the company to explain why it had been punished for false advertising over the past five years, and to provide detailed information about the safety and effectiveness of its product.

The China-Europe freight train service has expanded rapidly and now has 12 routes linking Yiwu with 37 countries and regions across Eurasia.

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The China Banking and Insurance Regulatory Commission announced in late April that the country will allow foreign-funded banks to conduct business such as the underwriting of government bonds, and will lift foreign ownership limits on domestic banks and financial asset management firms.

The Chinese government has outlined a series of policies this year, looking to remove the hurdles that have been preventing the escalation of subsidy-free photovoltaic projects in the world's biggest solar power market.

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The Chinese government has announced a timetable to withdraw subsidies step by step and promised to reduce restrictions for foreign investment to access the manufacturing of new energy vehicles (NEVs).

The China branch of the BRICS Institute of Future Networks was established in Shenzhen, Guangdong province on Tuesday, as China steps up its efforts to promote international communication and exchange on information and communication technology.