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BEIJING, Jan. 6 (Xinhua) -- The Chinese army has vowed to strictly tighten its administrative expenses by regulating budget quotas in a bid to improve the efficiency of military spending.

Land and fiscal policies will be further improved to support the project, Xi said, adding the government will explore and encourage ways for non-profit institutions to participate in the construction and management of affordable housing.

Wang also expressed his hope that their cooperation goes deep and solid in the fields of think tanks, industry, commerce, agriculture, disaster prevention & relief, medical & sanitation, high technology, environmental protection, energy, communication & transport and cyber space security.

The new ideas and measures will again send a clear message that China is not only providing huge market demand and momentum of economic growth for East Asia, but also injecting fresh vitality into the region's integration.

China should be vigilant against risks of superficiality, and pay attention to the reform's efficiency in the process of opening up the financial, oil and electricity sectors to non-public capital, Joseph Ford, New York University associate professor warned.