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China will enhance oversight over investment in PPP high speed railway projects, as part of efforts to dissolve financial risks, the plan said.

China's CPI for 2018 rose 2.1 percent year-on-year, up from 1.6 percent for 2017. The growth exceeded 2 percent for the first time this year, but remained well below the government's target of around 3 percent for 2019.

China's auto sector is faced with chronic problems such as a lack of research input and key technologies, as well as some short-term impacts from cuts in new energy vehicle subsidies and stricter emission standards for traditional petrol-powered cars, Miao said.

China will not close its door but open it wider and wider, Xi said, adding that the country will safeguard the multilateral trade system and help build an open world economy.

China would score very well on investment, quality of education and speed of technological progress over the past four decades of rapid growth, thanks mainly to the central values that characterize the Confucian culture, which are the importance attached to education and thrift.