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The importance of private investment cannot be overemphasized. The private economy regularly contributes more than 60 percent of GDP growth and provides over 80 percent of jobs.

BEIJING, May 18 (Xinhua) -- A book designed to help understand President Xi Jinping's remarks on national defense and building the army has been published, military authorities said Wednesday.

It calls on supporting colleges and institutes to build institutions to facilitate the commercialization by strengthening the connections with businesses.

Xi said some workers may temporarily lose their jobs as China's economy enters the "new normal" and major restructuring. He asked authorities to ensure basic living standards and create more jobs.

The city of Shanghai has applied for its Free Trade Zone, a much reduced negative list for foreign investment which has cut special administrative measures by more than one third.