The agency's main tasks are drafting strategic guidelines, plans and policies for foreign aid, coordinating and providing policy advice on major issues, and drafting plans and evaluating foreign aid tasks.
Wang said that China and Japan are important neighbors and bilateral relationship has gone through some twists and turns in recent years, which affected communication and cooperation of the two sides in various areas.
The agency will take over the foreign assistance duties of the ministries of commerce and foreign affairs, State Councilor Wang Yong said as he delivered the reform plan at a plenary meeting of the 13th National People's Congress.
China may be tempted to again respond in kind. But since it "only" imported a total of $131 billion of goods from the US in 2017, it may limit its direct retaliation options. Nonetheless, China can retaliate via other channels, including sales of US Treasuries, or by disrupting supply chains that are essential to US businesses.
It will do overall planning and coordinating on major foreign aid issues, offer advice and advance the country's reforms in matters involving foreign aid. It also will draft foreign aid plans, identify major programs and supervise and evaluate implementation of such programs.
Maldivian President Abdulla Yameen said Xi's election reflects the confidence of the majority of Chinese people in Xi's leading efforts to achieve the "Two Centenary Goals" and the Chinese Dream, and under Xi's brilliant leadership, China will make greater achievements in its development and bring more opportunities for various countries to achieve common development.
Japan paid great attention to the new measures for expanding China's opening up announced by Chinese President Xi Jinping at the opening ceremony of the Boao Forum for Asia annual conference and believes that they will help promote bilateral economic relationship, he said.