China's legislature

China on Tuesday lashed out at the U.S. over new sanctions against Chinese officials and the sale of more military equipment to Taiwan.

The U.S. actions are part of what critics see as an effort by the Trump administration to put in place high-pressure tactics toward Beijing that could make it more difficult for President-elect Joe Biden to steady relations.

China's parliament ratified an agreement with the world's largest emerging nations on July 1 to create a new development bank, state news agency Xinhua reported. 

The New Development Bank, also known as the BRICS Bank, is one of two international development banks that China is promoting as an alternative to western institutions such as the World Bank. 

China will carry out a groundbreaking trial program that may allow farmers to sell land, a senior official said March 4, a step towards liberalizing rural real estate transactions currently monopolized by the government.