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As the results of the action plan, China will allow imports of US beef and the United States will import poultry from China. Most of the agreements are expected to be implemented by July 16.

As urbanization replaces the majority of farmland, and modern industries such as finance and IT push up labor costs in China's eastern coastal area, the central government is offering subsidies to encourage silk manufacturers and lower-tier governments in western areas to develop the industry.

As the outbreak of novel coronavirus this year boosted demand for digital banking, the China Banking Association has guided the banking sector to strengthen online financial services nationwide, especially in regions that were hard-hit by the contagion.

As with those under the emergency declaration, they have also asked their residents to take various precautionary measures, such as working from home, avoiding crowded areas and reducing social contact by up to 80 percent, in a bid to prevent the virus' spread.

As the world's largest consumer of soybeans, China was the destination for about 60 percent of US soybean exports before the trade dispute.