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Mongolia stands ready to work with China and Russia to implement trilateral cooperation consensus and launch the China-Mongolia-Russia economic corridor construction as early as possible, while promoting cooperation in sectors such as infrastructure and energy transportation, said Battulga.

With lower tariffs, the value-added taxes and consumption taxes on auto imports will decrease accordingly.

He praised Egypt for working positively to resolve the Syrian crisis, adding that China is to continue consultation and coordination with Egypt and other countries to realize the political settlement of the Syrian issue.

China has 178 tariff items of vehicles in total, with an average tariff rate of 21.5 percent currently. It has 97 items for auto parts, with an average duty of 10.2 percent.

BEIJING, April 29 (Xinhua) -- China has released new management rules on foreign investment in the securities sector as the government takes steady steps to open its financial sector wider.