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"Construction projects for six to eight new generators are expected to begin each year from 2016 to 2020," Wang said.

Eventually, the growth momentum comes from the vigor and creativity of the Chinese people. China is the largest developing country, with over 1.3 billion population. Hundreds of millions of them are skilled professionals with higher education background. In the next five years, 30 to 40 million more will graduate from college. To leverage our strength in labor supply and human resources will unleash the greatest potential and momentum for development. We will improve incentive mechanisms to encourage science professionals to devote themselves to innovation, and in return, they will be held in high respect and receive reasonable returns for their achievements. We will develop better methods for performance evaluation to mobilize the enthusiasm of officials in doing their job and showing initiative. We will build platforms and create conditions to support SMEs while they embrace and become part of the new economy. At the same time, we will transform and upgrade traditional engines for the economy. This way, those interested in starting their own businesses or introducing innovations will be able to put aside any burden they may carry, feel free to act, and make their life worthwhile in the process of creating social wealth. The wisdom and creativity of hundreds of millions of people will be pooled together into an incomparable force for development, taking the Chinese economy over various hurdles and onto new levels.

China supports India to host a successful BRICS leaders' meeting this year and China, as rotating chair next year, will work with other BRICS countries to promote the economic and political cooperation in parallel, Wang said.

"Those that fail to do so will be held accountable," it said.

The weighted-average target for Chinese mainland's 31 provinces, autonomous regions and municipalities, nine of which set their targets as a range instead of a specific number, was 7.5-7.8 percent in 2016, compared to 7.7 percent in 2015, according to Nomura.