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China is willing to work with the DPRK to implement the important consensus reached between the top leaders and jointly contribute to promoting the development of bilateral relations in the new era, improving the welfare of the two peoples and safeguarding peace on the Korean Peninsula, Song said.

China will closely watch the impacts caused by the unilateral US tariff measures, since they will dent bilateral trade and the global economy, according to GAC spokesman Huang Songping.

China proposes increasing an existing 30 percent tariff on the fuel by an additional 15 percent. Iowa shipped a record 4.2 billion gallons of the renewable fuel last year. About half of Iowa's corn production is used to make ethanol and dry distiller's grain, a feed for livestock.

China still needs investment in a number of areas, such as environmental facilities, suburban railways and underground structures, given its low level of percapita capital stock compared to advanced countries, the report said.

China lowered tariffs on an array of products from medicines to vehicles in 2018, with the general duty level down from 9.8 percent to 7.5 percent.