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The consensus that there will be "no trade war" — reached during the latest round of trade talks between the world's top two economies — means a lot, not only for the Sino-US economic relationship, but also for the global economy as a whole, according to officials and analysts from both countries.

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 country will improve its tax, social security and transfer payment systems to expand the middle-income group and reduce the income gap, Finance Minister Liu Kun said in a recent article published on cntheory.com.

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The congress is expected to build a vital platform for dialogues and exchanges among countries, and will help promote global preservation and use of bamboo and rattan resources, and contribute to the sustainable development of all countries, the premier said.

The country has also completed the cleanup of 1,957 "zombie companies" and the management of firms in extreme difficulties, finishing 95.9 percent of the total task, SASAC data showed.

The corpse flower inside the Amazon Spheres on Tuesday, as captured by a live stream trained on the rare plant. (Amazon screen grab)

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The contract for settlement in December 2020 closed 0.15 percent higher at 97.85 yuan. The contract for settlement in March 2021 closed 0.2 percent higher at 97.47 yuan.

The country has played a crucial role in the global recovery with sustained prosperity. We are happy to see that China has become better integrated into the world economy and now plays a more (active) role in global affairs.

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The country will continue to stabilize macroeconomic policies, market expectations and the financial market, by sticking to its proactive fiscal policy and prudent monetary policy, taking forward-looking and effective macroeconomic regulation measures, and properly defusing risks, he added.

The consumer price index, a main gauge of inflation, rose 1.5 percent year-on-year in February, compared with 1.7 percent growth in January. The producer price index, which measures costs for goods at the factory gate, edged up 0.1 percent year-on-year in February, data from the National Bureau of Statistics showed.