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China is ready to coordinate with Germany on a new round of consultations between the two governments to enhance pragmatic planning, Premier Li Keqiang said on Tuesday.

China has scaled up efforts to stabilize foreign trade and investment amid the rapid global spread of the novel coronavirus, with experts calling for bigger tax cuts to help the country's export-oriented businesses ride out the outbreak.

China is no longer a weak developing economy, he said, but a significant, powerful economy that is fulfilling its responsibilities.

China is the world's largest consumer market, with 400 million middle-income people and a large number of rural residents with strong purchasing power, who are increasingly pursuing better life and services, said Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges.

China is expected to form 20 major city clusters by the end of 2020, according to the 13th Five Year Plan (2016-20).