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First, the burden of taxes and fees on the companies should be eased. Substantial tax cuts including the reduction of value-added taxes should be advanced, while tax exemptions can be provided for micro and small firms as well as technology startups. The nominal rates for social security contributions should be lowered in accordance with actual conditions.

The Wednesday meeting decided that starting from next January, the current policies on cross-border e-commerce retail imports will continue. No requirements of licensing, registration or record-filing for first-time imports shall apply to the retail imports through cross-border e-commerce platforms. Instead, these goods will receive more relaxed regulation as imports for personal use.

Secondly, G20 should stick to inclusiveness, and bring the benefits of international trade and economic globalization to people of all countries and all classes, Xi said.

Sanchez thanked China for its timely food aid after the drought in El Salvador not long ago.

Noting that PNG is a Pacific island country with significant influence, Xi said that China and PNG have been conducting their relations based on principles of mutual trust, equality and win-win cooperation.