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China was once considered the "Kingdom of the Bicycle," with bikes dominating city streets across the country, but over the past four decades, China's dramatic increase in economic prosperity and urbanization has seen many people move to motor vehicles as their primary means of transportation, contributing to a marked deterioration in air quality.

China unveiled a new regulation on Thursday requiring most automakers to sell a minimum number of new energy vehicles annually from 2019, as part of the country's broader effort to curb carbon emissions by reducing the use of fossil-fuel powered vehicles.

China will beef up oversight of duty-free shops at ports with measures to encourage fair market competition, according to a temporary regulation published on Thursday.

China stands ready to strengthen its partnership with the WEF and expand cooperation on various platforms, Premier Li noted.

China stands ready to maintain a dialogue with the EU over issues including the World Trade Organization reform and to jointly safeguard the rules-based multilateral trade system, he said, adding that Beijing will take part in the multilateral agenda to cope with climate change in a constructive manner.