The construction industry in China is significant and under pressure to generate growth. Considering the fact that China, together with the US and India, are leading the way and accounting for 57 percent of all global growth in the construction market, which is believed to grow to trillion by 2030, the potential in China is huge, he said.
The country will explore emerging markets while maintaining ties with traditional ones amid virus-hit global demand, Commerce Minister Zhong Shan told a press conference, citing increasing trade volume with countries along the Belt and Road.
The country is also willing to work with the international community in adhering to the principles of fairness as well as common but differentiated responsibilities. China will also safeguard the United Nations Framework Convention on Climate Change and the Paris climate agreement and work toward implementation, the premier said.
The country will continue to open and work with the whole world in improving global cooperation and stability, contributing more to the global economy, he said.
The country will step up financial support for these companies, focusing on pushing forward supply-side structural reform and high-quality economic development, he said.
The country will also accelerate the boom of the second-hand automobile market by reducing value-added tax from 3 to 2 percent for second-hand automobile sellers.
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The country should comprehensively improve monitoring, evaluation, alerts and handling of safety risks to uphold the rights and interests of consumers, the 37th meeting of the Central Leading Group for Deepening Overall Reform said in an official release.
The core CPI, which excludes food and energy prices, rose 0.5 percent year-on-year last month, the same as August, the bureau said.
The construction of Tesla's gigafactory generated concerns in domestic auto market as well. Industry analyst Cao He said the electric vehicle market in China will face a reshuffle in the next three years, with only one or two left. Jones Zhong, on the other hand, said Tesla's entrance will not shake the industry, as its position is higher than most newcomers domestically and does not belong to the same segment.
The country has shared information with the public and international bodies, such as the World Organisation for Animal Health, or OIE, as soon as outbreaks have been confirmed, ministry spokesman Guang Defu said.