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China should accelerate the implementation of tax cut measures to further unleash the vitality of companies, which will help the economy keep running within a reasonable range and promote high-quality development, Li said.

China is willing to step up bilateral cooperation with the World Bank via funding and knowledge channels, and deepen cooperation in key areas including environmental protection, biological diversity and poverty reduction, he said.

China uses an average of 561 kilograms of fertilizer per hectare of fruit orchard－twice that used in Japan and six times that of the United States. He said that 714 kg of fertilizer is used per hectare of vegetables, compared to 522 kg in Japan and 264 kg in the US.

China plans to partner with 76 WTO members to initiate negotiations on trade-related aspects of electronic commerce by building on existing WTO agreements, the Ministry of Commerce said.

China will continually push forward the all-around reform and opening up, which could also help stabilize the foreign exchange reserves, Wang said.