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The artificial intelligence industry has developed into a new economic growth engine for Beijing, with the city's AI-related output reaching 170 billion yuan (.83 billion) over the past year, a year-on-year increase of 13.3 percent, according to a report released recently by the Beijing Academy of Artificial Intelligence.

The average tariff rate for cultured and fished aquatic products and processed food such as mineral water will be cut from 15.2 percent to 6.9 percent, according to a statement released after the meeting.

The banking and insurance regulator has effectively contained irregularities concerning financial institutions, businesses and transactions by undertaking remedial measures for almost three years, Xiao said.

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The authority has also pledged to advance the development of online diagnosis and treatment as well as internet-based hospitals, which is expected to help ease the pressure on medical institutions offline and contribute to outbreak prevention and control.

The average price of new homes in 100 cities increased 0.1 percent month-on-month in February, down 0.12 percentage points from January, according to a statement from the institution.

The bank's nonperforming loan ratio stood at 1.65 percent as of the end of June, remaining flat compared with the level at the end of 2019.

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The banks will have to deal with risks associated with the cleanup of the loss-making "zombie" companies, potential credit default by some real estate companies and risks from local government debt. The rise of protectionism and uncertainties in the global markets are also likely to affect banks' cross-border business, the report said.

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The association's fundraising goal is to purchase 100,000 N95 masks, 10,000 items of disposable medical protective clothing, 50,000 disposable medical gloves and other medical supplies in the UK, and send them to China.

The bill increases the state business and occupation tax by 67 percent on “advanced computing businesses with revenue of more than 0 billion.” That category applies to two companies: Amazon and Microsoft.