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Second, costs of import and export companies will be cut, and the export rebate policies will be further improved. The frequency of inspections for exports will be lowered, and the coverage of export credit insurance will be expanded.

After its entry into the World Trade Organization, China reduced the average tariff level to 9.8 percent, over-fulfilling its tariff reduction commitments. And the tariff level is below the average of developing countries, Wang noted.

Chinese State Councilor and Foreign Minister Wang Yi met with Pompeo earlier on Monday.

Wang said that the United States had "escalated trade friction with China, took actions that jeopardized China's rights and interests on the Taiwan issue and unwarrantedly condemned China on its domestic and foreign policies."

China and Serbia should join hands in the Belt and Road construction, and synergize their development strategies to deepen bilateral cooperation and better benefit the two peoples, Xi said.