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China's GDP registered a 6.9 percent year on year increase in the first quarter thanks to warming trade and robust consumption, which prompted a number of financial institutions, including the International Monetary Fund, to upgrade their forecast.

China will further open up in the future. During the Boao Forum for Asia earlier this month, Chinese President Xi Jinping said China will continue to staunchly stay on the path of peaceful development, pursue a mutually beneficial strategy of opening-up, and forge a new type of international relations featuring mutual respect, fairness, justice and win-win cooperation.

China's National Development and Reform Commission and the Ministry of Commerce said on Monday it would temporarily not rule out the possibility of levying additional tariffs on imported US farm produce with deals made after Aug 3, and related Chinese companies have halted purchases of US farm produce.

China would like to strengthen the Belt and Road Initiative's alignment with Mongolia's development strategies and accelerate a feasibility study of a free-trade zone, the premier said. Both countries should speed up cooperation in investment, manufacturing of agricultural and animal husbandry products, energy and minerals and cross-border transport, he said.

China will draft a series of laws and regulations to ensure smooth implementation of the newly approved Foreign Investment Law as the country seeks to further open up its economy to pursue high-quality development, Premier Li Keqiang said on Friday.