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China will defer income tax payments for small companies with thin profit margins, as well as individually-owned businesses, to help them resume business and production, said the State Taxation Administration.

China will push for greater reform, opening-up and innovation to keep the Chinese economy running in a reasonable range for high-quality development this year, Premier Li Keqiang said at a plenary meeting of the State Council on Monday in Beijing.

China's bond market stood at about 86 trillion yuan (.52 trillion) by the end of 2018, with about 1.8 trillion yuan (1.9 billion) held by foreign investors. The market size was the third largest globally and the second largest in Asia. Observers predict China will surpass Japan to become the world's second largest bond market this year.

China's annual grain output has exceeded 6.5 billion tons for five consecutive years. By putting in place a modern reserve management system and a variety of other measures to boost grain output, China is now in a better position to ensure its food security, said Robert Aspell, president for Asia-Pacific at Cargill Inc.

China will improve the protection of intellectual property rights in patent disputes by setting up a national-level IP court. The new court will streamline the appeal process by allowing litigants to bypass top provincial courts, the Supreme People's Court said on Saturday.