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.
According to the plan on reforming institutions of the State Council made public last month, the agency will be in charge of tasks such as drafting strategic guidelines, planning and policies for foreign aid.
The war of words between the United States and China has escalated rapidly over the last few days. On Thursday, US President Donald Trump upped the ante in the trade battle with China, suggesting further tariffs on $100 billion of imported goods from China, on top of the $50 billion announced on Tuesday.
Main opposition Republican People's Party (CHP), however, urged the government to lift state of emergency soon, saying it would cast shadow over upcoming elections.
The meeting called for improvement in the rule of law and promoting comprehensive legislation and legislative process in key areas, as well as deeper integration in military and civilian development.
China has offered assistance to other developing countries without attaching political conditions to the aid, has developed a foreign aid model with Chinese characteristics and has won praise from the international community, Yang said.
If China responds to these $150 billion of threatened US tariffs in kind, the cumulative loss of GDP in 2018-19 could reach 0.3 percent in each economy with the US potentially loosing more than 300,000 jobs. Importantly though, these threatened tariffs will be subject to negotiation, and therefore shouldn't be considered as final.