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China tipped to open up market further, easing financial climate to soften impact of trade tensions

China is willing to carry out profound legal exchanges and cooperation with countries along the B&R, build more solid consensus, set higher goals and establish better platforms for dialogues in legal cooperation, and work together to convert the cooperation into more results, Wang said.

China welcomed Brazil's prudent and restrained use of trade remedy measures and the positive signal the decision sent, said Wang Hejun, head of the ministry's trade remedy and investigation bureau.

China is willing to learn about advanced technologies and management expertise from other countries and expand cooperation with them in areas of products, knowledge, technology and services, he said.

China suggested necessary reforms of the WTO be made so as to overcome the crisis, strengthen its authority and efficacy, and enlarge its relevance in terms of global economic governance. It also proposed strengthening the inclusiveness of the multilateral trading system, said an official with the Department of WTO Affairs at the Ministry of Commerce, in an online statement late on Tuesday.