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China plans to reduce the tax burden and social insurance contributions of enterprises by nearly 2 trillion yuan (8.4 billion) this year, higher than the 1.3 trillion yuan of tax and fee cuts on enterprises and individuals last year, according to the Government Work Report delivered on Tuesday.

China may see a major investment into the precision medicine sector by 2030 as the nation calling for more efforts in the sector, which would benefit startups and other internet-based healthcare companies a great deal, said industry experts.

China removed import tariffs on cancer drugs from May 1 and lowered VAT from May 3. According to Voice of China, it is estimated that the moves will save patients about 1,000 yuan (5) a year on average.

China is willing to develop relations with the DPRK to the benefit of the two countries and the two peoples and make new contributions to regional peace and stability, he said.

China unveiled a three-year plan in December to boost the application of AI in the automobile, robotics, healthcare and other sectors, in its latest push to upgrade the country's real economy.