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In the medium to long term, however, a sound fiscal framework should be combined with increased investment in high-quality infrastructure that provides direct positive social and economic impacts, climate resilience and more effective delivery of public goods and services.

In the second quarter, some 240 million parcels were handled every day, equal to the highest level during the same period reported in 2019.

In the past several months, China has announced and started to implement a "negative list" program that allows foreign companies to have 100 percent ownership in investments in all areas of the economy, except for a small number of areas, such as telecoms and defense, that are explicitly prohibited.

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In the meantime, Shandong province in East China will spend 430 million yuan ( million) this year to support the infrastructure building and service improvement of its airports in Jinan, Dongying, Yantai, Weifang, Jining, Weihai, Linyi and Rizhao, according to Shandong Province Finance Bureau.

In the latest draft of the law, equality has been made one of the top priorities, as it emphasizes that foreign and domestic companies will be "treated as equals".

In the past 24 hours, Ecuador saw eight deaths related to COVID-19 and 68 newly-detected infections.

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In the message, Xi extended wishes to the people who work in philosophy and social sciences nationwide. In the past four decades, the CASS has played the role of a think tank to provide services for decision-making processes of the Party and the government, Xi said.

In the past 10 years, the number of outbound travelers from China has maintained rapid growth of 14.6 percent on average per year.

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In the long run, the country needs to implement a long-term mechanism and offer a proper credit environment to help ease the financial pain of small and medium-sized enterprises - those which are most likely to be affected by market volatility, according to analysts.

In the past few years, such companies have seen most of their sales coming from China where the purchasing power of China's affluent upper-and middle-income segments of the population has been growing.