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China will take a string of innovative and reform steps to seek high-quality trade growth, aiming to further optimize trade mix, boost efficiency and competitiveness and develop a sound evaluation mechanism by 2022, according to an official guideline.
China's Belt and Road Initiative, proposed by President Xi Jinping nearly six years ago, has made practical progress, with 125 countries and 29 international organizations having signed 173 cooperation agreements under the initiative framework as of March 27.
China will gradually cut the current 25 percent tariff on imported cars, the foreign ministry said in a news release on Thursday. It also said the government will initiate a pilot program before June 2018 that will relax foreign firms' ownership restrictions for new energy and special use vehicle businesses established in free trade zones.
China's Vice-Premier Hu Chunhua speaks at the Second High-level United Nations Conference on South-South Cooperation, in Buenos Aires, Argentina. March 20, 2019. [Photo/Xinhua]
China will quicken the development of 5G network construction, with more than 600,000 5G base stations expected to be built nationwide by the end of 2020, according to the MIIT.
