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China unveiled measures to cut corporate contributions to the social insurance scheme in March as part of tax cuts and fee reductions totaling 2 trillion yuan (0.9 billion).

China will also stand ready with the international community, adhere to the two-state solution and promote a comprehensive, just and proper solution to the Palestinian issue on the basis of adhering to peace talks, he added.

China must coordinate efforts and policies to stabilize employment, finance, foreign trade, foreign and domestic investment and expectations, according to a statement issued after the meeting on Tuesday, Xinhua News Agency reported.

China stands ready to strengthen pragmatic cooperation and friendly exchanges with Kiribati in various fields on the basis of the one-china principle and the Five Principles of Peaceful Coexistence to benefit the two countries and peoples, said the spokesperson.

China registered a trade surplus of .4 billion with ASEAN countries, narrowing by 27.4 percent from 2016.