China agrees to reclassify fentanyl after meeting with US at G20 summit

China has decided to reclassify 'fentanyl' as a 'controlled substance', following the meeting between United States President Donald Trump and Chinese President Xi Jinping on the sidelines of G20 summit in Buenos Aires on Saturday.

According to a statement released by China's Foreign Ministry, Beijing has "decided to schedule the entire category of fentanyl-type substances as controlled substances, and start the process of revising relevant laws and regulations."

White House termed the decision a "wonderful humanitarian gesture," reported CNN.

Washington and Beijing have also agreed to take active measures to strengthen cooperation on law enforcement and narcotics control which includes reclassification and control of fentanyl-type substances, stated the press statement.

In a statement, the White House divulged that according to the new agreement people in China involved in the selling of fentanyl to the US, "will be subject to China's maximum penalty under the law."

Fentanyl is a drug which is 50 to 100 times more potent than morphine and 30 to 50 times more potent than heroin.

The US was keen on ending the opioid crisis in the country and this step from China will help further the cause.

White House also stated that the US has agreed to maintain the 10 per cent tariffs on 200 billion USD worth of Chinese goods, instead of raising them to 25 per cent.