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China will begin to enforce a new regulation on production safety and emergency response on April 1, under a decree signed by Premier Li Keqiang.

China said on Friday it hopes to work with the new Australian government to promote bilateral ties "on the right track", after Treasurer Scott Morrison was elected by the governing party as the new Australian prime minister.

China supports European integration and that stance will remain unchanged, he said. The EU is a vital force in safeguarding world peace and stability, as China's biggest trading partner, and a united, stable and prosperous EU and strong euro are in line with China's fundamental interests, he said.

China plans to introduce high-standard trade, financial, foreign currency and investment supervision systems as part of a free port within the Shanghai Pilot Free Trade Zone to further compete with other major shipping hubs such as Singapore and Hong Kong, the Ministry of Commerce said on Thursday.

China will continue to implement a prudent monetary policy while carrying out anticipatory adjustments and fine-tuning, according to the statement.