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China plans to reduce the tax burden and social insurance contributions of enterprises by nearly 2 trillion yuan this year, according to the report delivered on March 5. Meanwhile, the country has set this year's GDP growth target at 6 to 6.5 percent.

China will allocate 106.1 billion yuan (about .8 billion) in funding for poverty alleviation work in 2018, some 20 billion yuan more than last year, said Liu Yongfu, director of the State Council Leading Group Office of Poverty Alleviation and Development.

China is willing to continue with exchanges and cooperation in defense and security with SCO member countries based on mutual trust and benefit and to improve the capacity to jointly cope with new challenges, Ren said.

China registered surplus in both the current account and the capital account in 2018, and the renminbi exchange rate played a more important role in balancing international payments, said Pan.

China will continue to encourage the United States and the DPRK to move in a positive direction, build mutual trust, resolve their respective concerns through consultations, and make joint efforts to promote the political resolution of the Korean Peninsula issue, Lu said.