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The country will continue to lower the rates of value-added tax levied on the manufacturing sector and reduce its costs on production factors such as electricity and water, Minister of Industry and Information Technology Miao Wei told Xinhua in an interview.

The cost of growing lab diamonds has also dropped by up to 90 percent in the past 10 years, according to a report from business analysis website ifanr.com.

The country will lower enterprises' electricity price by 5 percent from Feb 1 to June 30, excluding energy-intensive industries, according to the notice. A price-reduction policy released earlier will also last until June 30, it said.

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The coronavirus pandemic has put millions of jobs in jeopardy as the lockdowns in many countries and regions have disrupted businesses as never before. The International Labor Orgainzation estimated that about 200 million people would be out of work. Check out the video to learn more.

The country pledged measures including significantly lowering import tariffs for vehicles, while reducing import tariffs for some other products, and enhancing protection of intellectual property rights.

The construction workers operated about 1,000 machines around the clock. Yuan said he had not slept well for days because of the demanding work.

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The country had a boom decade from the exploitation of gas, supported by exports of minerals and soybeans, but has now recorded five years of deficits, Espinoza told China Daily. This year, the fiscal deficit is expected to be at least 8 percent of GDP, or about .5 billion.

The country has attached great importance to 5G in its 13th Five-Year Plan (2016-20). In March, the Ministry of Industry and Information Technology announced the country had established the world's largest 5G test field in the race to standardize the technology.

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The contracts signed between SBM Offshore, a Netherlands-based company engaged in the offshore energy industry, and its Chinese partners on two more floating production storage and offloading (FPSO) hulls will further enhance their ties and thus help the company to expand its presence in China, said company's top official.

The construction machinery manufacturing industry is a highly cyclical business.