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The new law provides for regulation over the responsibility of charity groups to disclose information including reasons for raising money.

The campaign to build understanding of the Three Stricts and Three Honests* was intensified, the CPC Central Committee's eight-point decision on improving Party and government conduct continued to be implemented, action was taken against formalism, bureaucratism, hedonism, and extravagance, and rigorous efforts were made to carry out the State Council's three-point decision on curbing government spending. Administrative supervision and oversight through auditing were strengthened. We stepped up efforts to improve Party conduct and government integrity and fight corruption, and brought a number of offenders to justice.

The policymakers cited volatile capital flows, slumping commodity prices, escalated geopolitical tensions, a potential UK exit from the European Union and increasing refugees as major vulnerabilities of the global economy.

Third, we need to look at the prospect of the economy for the long run. China has become the world's second largest economy, but its per capita GDP is still at the middle level in the world. There is both a gap to fill and a potential to tap, especially in China's central and western regions, where we see huge space and room for development. China is now in the process of industrialization and urbanization. There is strong impetus for reform and much space for expanding domestic demand. Development is resilient, and the tools are many to boost innovation. The fundamentals of the Chinese economy have stayed unchanged and will remain sound in the long run.

Capable, honest officials should be rewarded with promotions, the president said.