China State Council: Will properly resolve trade frictions

China will actively expand imports and lower tariffs while accelerating efforts to build exports control system to manage trade risks, Chinese news agency Xinhua reported on Thursday citing an official document from the State Council.

"China will properly resolve trade frictions," the document read. "Will step up punishment for intellectual property infringement and push for imports of high-quality agricultural products and services."

These comments didn't have a noticeable impact on the sentiment. As of writing, major European equity indexes were down between 0.3% and 0.5% on a daily basis.