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China continues to be the world's largest trader in goods. In 2018, China's total trade in goods exceeded 30 trillion RMB yuan for the first time (that is the equivalent of 4.6 trillion US dollars). It also represented an increase of 12.6% over the previous year. The net increment was over 510 billion US dollars, larger than China's trade total of 2001, the first year of China's membership in the WTO.

China has announced measures to cut the social insurance contribution of businesses as part of its efforts to reduce the burden of companies and boost market vitality. [Photo/IC]

China has made steady progress in opening up the A-share market in recent years. The authorities quadrupled daily transaction limits for stock connects last year, and continuously relaxed regulation of qualified foreign institutional investor schemes, including announcing an end to quota limits of the schemes last week.

China has always regarded Russia a priority partner for cooperation in investments, Li said.

China expects to become the second-largest market for wine by 2021, replacing the United Kingdom, as young consumers' preferences are evolving, experts said.