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China plans to reduce the tax burden and social insurance contributions of enterprises by nearly 2 trillion yuan this year, according to the report delivered on March 5. Meanwhile, the country has set this year's GDP growth target at 6 to 6.5 percent.

China is working on transforming its IPO approval system into one based on registration, which will allow the bourses to take over IPO approvals and clear the backlog of waiting companies.

China supports the peaceful settlement of disputes over territory and maritime rights and interests by all parties concerned in accordance with such treaties as the UN Charter and the UNCLOS and general international law, and supports efforts to safeguard security and stability in the region, it said.

China proposed on Thursday a special China-ASEAN leaders' meeting on the novel coronavirus outbreak be held at an appropriate time to plan and guide cooperation from a higher level.

China will adjust duties on 706 import items from aircraft engines to pianos and baby's diapers from next year, the Ministry of Finance announced on Monday.