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Regarding the inter-Korean relations, the foreign minister said the ties between South Korea and the DPRK were influenced by the DPRK-U.S. relations following the Hanoi summit.

"The peace process has advanced although the second summit between the DPRK leader and U.S. President Donald Trump ended with no agreement in late February in the Vietnamese capital of Hanoi," Kang noted.

The country's poverty-reduction drive has been widely recognized as the largest such campaign in history, with UN Secretary-General Antonio Guterres pointing out that China had contributed the most to world poverty alleviation in the past decade.

Meng admitted the year-long trade disputes between China and the United States had an impact on the country's economic development, but the effect was "overall controllable."

The decision was made at the State Council's executive meeting chaired by Premier Li Keqiang on Tuesday in an effort to achieve multiplying effects of expanding domestic demand, boosting employment and improving people's lives.