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China will spare no effort to stabilize foreign trade by increasing financial, insurance and fiscal support and strengthening cooperation with regional trade partners, especially Japan and South Korea, as the novel coronavirus pneumonia epidemic spreads worldwide, the Ministry of Commerce said on Thursday.

China's ODI in economies participating in the Belt and Road Initiative climbed 22.4 percent year-on-year to .61 billion in the first three months this year, the ministry said.

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.

China's SOEs should accelerate the pace of their market-oriented reform to support the government's efforts to steer the economy toward innovation and technology-driven high-quality growth, he said.

China will speedup the issuance of local government debt in the second half of the year, but the overall risks are under control, government officials and industry experts said.