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China has decided to adopt a slew of measures, including tax and fiscal policies, to enhance the innovation and development of border trade, according to the Ministry of Commerce.

China has always put the people first and valued the life of its people more than anything else in the face of the sudden pandemic, and managed to bring the virus under control after an arduous effort from all its people, the premier said.

China has been the powerhouse for global growth and a main contributor to an open world economy in recent years. Since becoming a WTO member in 2001, China has cut average tariffs from 15.3 per cent to 9.8 per cent, removed over 50 access restrictions on the manufacturing sector and opened about 120 sectors of the service industry to different degrees. It is now the largest trading partner of 124 countries and one of the top three markets for goods from 54 WTO members.

China has always respected multilateral trade rules and opposes the abuse of trade remedies. The country has not only defended its legitimate rights and interests, but also safeguarded the authority of the multilateral trading system and the seriousness of WTO rules, said Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges.

China decided not to announce a numeric growth target for this year, focusing, instead, on economic and social stability issues, such as ensuring no meltdown in employment, social welfare, and market entities. "This is a realistic choice given that the economy still faces major internal and external uncertainties," said Zhu Haibin, chief China economist with JPMorgan.