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China's automobile tariffs were significantly reduced to 25 percent by 2006 after its accession to the WTO in 2001, a relatively low rate for a developing economy.

China will lift foreign ownership restrictions in the life insurance sector in three years and raise foreign ownership limits to 51 percent in joint-venture life insurance firms by the end of June, a top regulatory official said.

China will strengthen intelligence sharing and cooperation with some Southeast Asian and European countries to fight cross-border telecom fraud, the Ministry of Public Security said on Sunday.

China will double its new energy cars development goal by 2020 as it reaches its target ahead of schedule.

China will further protect the legal rights and interests of foreign investors and create a business climate that offers treatment based on equal footing and fair competition, Wang said.