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China is expected to cut 2.3 trillion yuan (0 million) in taxes and fees in 2019, Securities Daily reported on Tuesday.

China is an important player in the global system. It is not only the largest single contributor to global growth, accounting for more than 30 percent of the world's economic growth, but also an active participant in global affairs. Facing the challenge of global climate change, China has committed to reducing its carbon intensity by 60 to 65 percent from 2005 levels by 2030, peaking its carbon emissions by 2030. The country is implementing a variety of measures to meet these goals.

China has released many favorable tax policies to support small and micro businesses to ride out the epidemic and will ensure these measures can materialize, a senior official said on Saturday.

China has trade in services with more than 200 countries and regions. Its service trade volume reached 1.29 trillion yuan (6.81 billion) in the first quarter of this year, up 2.6 percent year-on-year, while its service export volume topped 463.49 billion yuan, up 10.3 percent, according to the Ministry of Commerce.

China is stepping up efforts to fulfill that potential. In May, a one-week learning trip aimed at helping Chinese digital finance practitioners better understand Africa will be held in Kenya, initiated by CAFI and sponsored by the Bill and Melinda Gates Foundation.