Premier Li Keqiang said on June 11 the government will continue to implement large-scale cuts in taxes and fees, to improve the country’s business environment.

Premier Li made the remark during a meeting with World Bank President David Malpass in Beijing.

The Chinese government will deepen reforms in streamlining administration and delegating power. Large-scale tax and fee cuts will be implemented to build a more market-oriented, laws-based and internationalized business environment, thus promoting high-quality development, according to Premier Li.

Premier Li also noted as the largest developing country, China is willing to fulfill its responsibilities and obligations to the international community, while managing its own affairs.

In terms of China’s cooperation with the World Bank, Premier Li concluded that China’s cooperation with the World Bank synchronized with the country’s reform and opening-up process and has been beneficial to China’s development.

Premier Li believes that the future holds great cooperation prospects between China and the World Bank. The cooperation can promote poverty-alleviation, narrowing the North-South gap and sustainable development.

Malpass acknowledged the achievements of China’s economic growth and development in other areas and expressed that the World Bank is looking forward to deepening its cooperation with China in various areas of bilateral and global scope.

State Councilor and Foreign Minister Wang Yi and He Lifeng, head of the National Development and Reform Commission, also attended the meeting.