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China will enhance coordination in financial regulation to manage the timing and pace of regulation to stabilize market expectations, according to a quarterly monetary policy report released by the People's Bank of China (PBOC).

China's business environment has been further optimized. In 2019, it is estimated that it will reduce logistics costs by 80 billion yuan in the transportation sector, and reduce taxes and fees for civil aviation by 9 billion yuan.

China will further integrate itself with the development of the world and contribute more to economic globalization through Hainan. The free port could form greater synergy with the Guangdong-Hong Kong-Macao Greater Bay Area and boost economic and trade relations with Southeast Asian countries.

China will not threaten anyone else, attempt to overturn the existing international system, or seek spheres of influence, no matter how much progress it has made in development, Xi said.

China will shorten the time required for reviewing applications of high-value patents and for trademark registrations as part of its effort to strengthen the protection of intellectual property rights and improve the business climate, the State Council's executive meeting, chaired by Premier Li Keqiang, decided on Wednesday.