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China's foreign trade volume rose 9.4 percent year-on-year to 6.75 trillion yuan (.07 trillion) in the first quarter this year, customs data showed on Friday.

China's exports in yuan-denominated terms rose by 11.2 percent year-on-year last month, and imports by 14.7 percent, according to General Administration of Customs data on Tuesday. Previously, customs forecast July year-on-year export growth of 14.8 percent and import growth of 22.6 percent.

China's new yuan loans declined to 900 billion yuan (9.52 billion) in February, down from a historical record of 3.34 trillion yuan in January, the People's Bank of China, the central bank, reported on Wednesday.

China's loan commitment to the Belt and Road countries will be fulfilled in the next 3 years or so, Hu predicted. CDB will adhere to the market-oriented operating principle of the fund, offering key support to infrastructure construction, production capacity and financial cooperation, he added.

China's efforts to further reduce taxes, for businesses and individuals, will continually improve the country's tax environment if the significant progress made since 2017 is any indication, according to a World Bank Group report published on Tuesday.