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The statement said the central bank would employ monetary tools to encourage the credit supply to grow at a steady and moderate pace, as well as maintain a reasonable social financing scale.

Meanwhile, eight staple aquatic products reported a 1.2-percent drop in wholesale prices from the previous week.

Noting that BRICS members have boosted coordination and cooperation in a variety of areas, Hu said the BRICS nations should next commit themselves to promoting economic growth and improving the people's livelihood.

Soybean and corn price hikes caused by an ongoing drought in the United States, the world's largest grain producer and exporter, will have limited effect on grain prices in China, as the country may increase its grain imports from Brazil and Ukraine.

The document cited China's Island Protection Law, which stipulates that the country should mark up protected areas for its territorial sea base points and implement special protection over them.