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"Streamlining administration is as important as tax cuts in stimulating market vitality as we tackle the current downward economic pressure. The key task for the government is to foster a better business environment to energize all market players," Li said at the Wednesday meeting, "This will be our important measure for sustaining steady economic growth this year."

The PBOC decided Friday to cut the reserve requirement ratio (RRR) by 1 percentage point in a move to increase loan funding sources of small, micro, and private businesses.

He called for hard work to bring a happy life for the Chinese people and a great future for the Chinese nation as well as further efforts to work with the people of countries across the world to build a community with a shared future for humanity.

At the meeting, delegates from the two sides held discussions on a range of issues including culture, media, sports, tourism, traditional medicine and yoga.

The Bradwell B project is now under site investigation. At the same time, Hualong technology is going through Generic Design Assessment (GDA) by British authorities and has reached the third phase.