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China sustained its progress in the overall ranking, by securing the 22th spot, which makes it the first ever middle income country in the top 25 ranking, according to the GII 2017 report, published by the World Intellectual Property Organization in June.

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 needs to significantly increase its supply of ice and snow equipment, develop a group of top internationally competitive equipment makers, and set up a global research and development, production and operational system of equipment to better prepare for the upcoming Beijing 2022 Winter Olympics Games and beyond, according to the plan co-issued by nine government entities, including the General Administration of Sport of China and Ministry of Industry and Information Technology.

China made progress in March in its integrated efforts to contain the novel coronavirus outbreak while promoting economic and social development.

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.