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China has a total of 548 captive pandas. Of those, 285 are in the China Conservation and Research Center for the Giant Panda and 196 live at the Chengdu Research Base of Giant Panda Breeding.

China designed the sci-tech innovation board in a bid to leverage financial reforms to boost the development of high-tech sectors and advance economic transition.

China has made substantial progress in IPR protection and it is imperative for the country to better protect its IPR, failing which it would be unable to build a proper credit system and make technological advancements, Lou added.

China has confirmed it will give subsidies to corn and soybean producers in the northeastern provinces of Liaoning, Jilin and Heilongjiang, as well as Inner Mongolia autonomous region.

China has been witnessing massive overcapacity in its iron and steel sector and has vowed to reduce capacity. It plans to eliminate 100 million tons to 150 million tons of crude steel capacity in the five years from 2016. In 2017 alone, the country slashed its crude steel production capacity by more than 50 million tons, exceeding its annual target, as part of efforts to improve the competitiveness of the bloated sector.