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China will keep a prudent monetary policy, maintain market liquidity at a reasonably ample level, and take rational steps in structural deleveraging, Wang told the paper.

China would like to better align the Belt and Road Initiative with Papua New Guinea's development strategies and create more opportunities to boost cooperation in fields such as trade, energy, infrastructure and industrial production capacity, Li said.

China's GDP is forecast to increase by 1.3 percent this year, followed by growth of 6.9 percent in 2021, it said.

China's carbon emissions peak would be achieved around 2025 under the oil cap pathway, meaning that China would achieve peak carbon emissions five years ahead of its 2030 Paris Agreement target.

China will further cut restrictions on foreign investment and address challenges facing foreign companies investing in its market this year, the country’s top commerce official said.