Chinese President Xi Jinping on Saturday congratulated Sheikh Mohamed bin Zayed Al Nahyan on his assuming the presidency of the United Arab Emirates (UAE).

Facing downward pressure and increasing uncertainties, China has stepped up efforts to invigorate domestic demand and rev up the growth engine of the world's second-largest economy.

The International Monetary Fund announced Saturday an increase in the weighting of the Chinese renminbi and U.S. dollar in the Special Drawing Rights (SDR) currency basket after completing a quinquennial review.