This year is a particularly significant one for China and the Latin American countries as it marks the 60th anniversary of the establishment of diplomatic relations between the two sides.
This year's Mandela Day is observed under the theme "Action Against Poverty."
Those whose monthly salaries range from 5,000 yuan to 20,000 yuan will see their tax get cut by over 50 percent and those whose monthly salaries range from 20,000 yuan to 80,000 yuan will see their tax get cut by 10 to 50 percent.
Those would be discussed during the senior-level, intergovernmental dialogue on Tuesday at Peace House in the ROK side of the truce village of Panmunjom.
Those over-reliant on the subsidy and without any ambition and capability to develop valuable new energy products will be squeezed out of the market, said the executive.
Those who make the list for a discretionary subsidy receive an email and have 160 yuan (.50) credited to their canteen card-which can also be used in other campus stores-for the month. The list is updated on a monthly basis.
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This year's event followed the meeting between Chinese President Xi Jinping and US President Donald Trump in Argentina on Saturday, when the two leaders agreed to ease bilateral trade tensions and launch negotiations toward a concrete win-win deal.
This year is very likely to yield a bumper grain harvest, and current reserves are sufficient for domestic demand, the Ministry of Commerce said on Thursday.
This year marks the 40th anniversary of reform and opening-up. Over the past four decades, the country has recorded an average annual GDP growth rate of about 9.5 percent and lifted more than 700 million people out of poverty.
This year, China will host the first China International Import Expo (CIIE), showing its determination to open wider to the world and increase consumption in its fast-growing middle-income group.