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As such, governments on both sides of this relationship should work to reduce government regulations and barriers that inhibit both profitability and business growth, the report's executive summary concluded.

As transport difficulties have always remained a major impediment to rural development, especially in central and western regions, the corporation has donated heavily into infrastructure projects in poverty stricken regions, including 220 million yuan into building 104 roads, and 150 million yuan into 60 drinking facilities and 52 water supply and drainage engineering projects to ensure safe and convenient water supply for the poverty stricken regions. Strengthening the construction of rural transport infrastructure has been very important for boosting various rural industries as better rural roads will facilitate trade and accelerate the pace of poverty eradication, it said.

As the new threshold of personal income tax, raised from 3,500 to 5,000 yuan per month, is set to take effect on Oct 1, the State Council said on Thursday it will also hurry to set a clear scope and standards for six special expense deductions to ensure the threshold is significantly higher than 5,000 yuan, according to a report by China Business News.

As the market economy replaced the planned economy in the 1980s and 1990s, the village population was quickly hollowed out as young people moved to nearby counties and cities. By 2005, when Yue reached the retirement age of 60, only seven families with elderly members were left in the village.

As the country recognizes the urgent need to tackle poor air quality in cities, efforts are intensifying, with sales of electric vehicles rising and a strong growth in the deployment of natural gas vehicles, particularly into fleets of trucks and buses. A rising number of electric buses and LNG-fueled trucks in China will significantly slow gas and oil demand growth, it said.