We begin with the most important developments to come out of the Two Sessions. Today, the National People's Congress approved amendments to the national Constitution and China's top legislator Zhang Dejiang delivered the annual work report of the NPC Standing Committee. But first, at a morning press conference, the Ministry of Commerce briefed reporters on developments in trade.

China's Minister of Commerce Zhong Shan says the development of the country's foreign trade has exceeded expectations. He told reporters that China is standardizing its ways of investing abroad, and is also improving the business climate for foreign companies in China. The total volume of imports and exports reached nearly 28 trillion yuan last year.

ZHONG SHAN CHINESE MINISTER OF COMMERCE "China is already a major trading country. However, we should also be aware that while China may be a major trading power, it is not yet a quality trader. And to be a quality trader, we must be committed to the principle of being guided by innovation, and we must also embark on the path of high-quality development."

Zhong Shan said China has formulated plans to promote high-quality development of its economy and trade in the coming five years. He said there are six tasks to fulfil in the coming five years: strengthen the fundamental function of consumption in economic growth, improve competitiveness in foreign trade, boost two-way investment levels, optimize the pattern of regional opening-up, form new international economic and trade relations, and make commerce activities better serve the livelihood of the people.

There are also eight action plans, including upgrading consumption, innovation in investment, cooperation under the Belt and Road Initiative, and multilateral regional economic and trade cooperation.

On trade, Zhong said a trade war with the United States would be disastrous. He said China would not initiate a trade war, but would defend its national interests in the face of growing American protectionism.

ZHONG SHAN CHINESE MINISTER OF COMMERCE "There is no winner in a trade war. It can only bring disaster to China, the US and the world. China does not want a trade war. China will not be the first to launch a trade war. However, we are capable of handling any challenge and will resolutely defend the interests of our nation and our people.”

In the afternoon, China's top legislator Zhang Dejiang delivered the work report of the NPC Standing Committee, reviewing achievements of the Standing Committee over the last five years. Zhang stressed the strengthening of legislation in key areas such as constitutional amendments, national security, the civil code, the socialist market economy, the Supervision Law and environmental protection. Zhang also laid out proposals for the Standing Committee's work in 2018.

ZHANG DEJIANG, CHAIRMAN NPC STANDING COMMITTEE "2018 is the first year for putting into action all the guiding principles of the Party's 19th National Congress. The Party established the position in history of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, took its first steps on the new journey to fully build a modern socialist country, and charted the way forward for the cause of the Party and the country."