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"China via its new reform and opening-up measures appears ready to play its part to bring closure to the aggravated trade frictions and thereby stabilize market expectations.

"China will further crack down on smuggling of foreign agricultural products and the import of prohibited foreign garbage including plastics, slag from steelmaking, vanadium slag, unsorted scrap paper and discarded textile materials this year to ensure a healthy growth of the country's foreign trade," said Huang.

"China, as the world's largest importer and consumer of iron ore, has the obligation to provide an open, transparent and fair price benchmark reflecting the real supply and demand situation on the global iron ore market," said Li Zhengqiang, chairman of the exchange.

"China will adhere to the people-centered development philosophy and pay attention to disaster prevention and relief work while treating prevention as a major task."

"China's economic growth, which is above 6 percent, is relatively high globally and its inflation remains between 2 percent and 3 percent, which is appropriate," said Tang Jianwei, chief researcher at the Financial Research Center of the Bank of Communications. "As inflation level matches economic growth, China does not need to drastically loosen its monetary policy stance."