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In a similar move, Shanghai introduced a 50-point circular in May that aims to build the financial hub into a "new highland" for strategic emerging industries, including high-end equipment manufacturing and new energy technologies, which the authorities hope would account for 35 percent of the city's overall industrial output by 2022.

In a statement after the Article IV review, the Fund projected that Chinese economy will continue its recovery with GDP growth to be at 1.9 percent this year and 8.2 percent in 2021. Core inflation is expected to remain subdued, leaving CPI inflation in 2021 below the pre-crisis target of about 3 percent.

In a joint communique, the ministers also stressed the need for more economic integration between ASEAN and China and the need to have more "high-level" dialogues and exchanges.

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In a statement issued by the White House, Trump announced his intention to nominate Christopher Landau, who "is a constitutional and appellate attorney who has briefed and argued appeals before the United States Supreme Court, Federal courts of appeals, and State appellate courts".

In a sense, the advent of cryptocurrencies, and the attendant technological innovations, are reshaping traditional financial institutions, experts said.

In a separate case, the 47-year-old Australian was sentenced Wednesday to 50 weeks in prison in the UK for jumping bail in 2012 and holing up in the Ecuadorian Embassy in London. At the time, he was facing extradition to Sweden for questioning over rape and sexual assault allegations made by two women.

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In a phone call on Thursday with President Xi Jinping, US President Donald Trump said he looks forward to meeting Xi at the upcoming G20 summit in Argentina. He also said he supports US companies' participation in the first China International Import Expo, which will open on Monday in Shanghai.

In a bid to lift its tourism industry out of the doldrums, Thailand plans further moves to open up.

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In a new upwelling of violence across the city, rioters targeted the long-established national news agency bureau in downtown Hong Kong's Wan Chai area.

In a congratulatory message, Li said Mahathir is a senior politician in Malaysia as well as the region who has made contributions to the development of Malaysia and the Association of Southeast Asian Nations, China-Malaysia relations as well as cooperation in East Asia.