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China will give carmakers and the market a larger say in developing the new energy vehicle sector as part of its efforts to improve the sector's long-term competitive edge.

China's big six State-owned banks turned in their 2019 performance data on Monday, with net profit topping 1.1 trillion yuan (5.18 billion), The Paper reported.

China will simplify business registration procedures for foreign investors in a bid to spur overseas investment and create a more open business environment in the country, officials said on Tuesday.

China's National Development and Reform Commission released a blueprint in January that outlined the country's plan to push self-driving technologies forward. China expects smart cars, with partially or fully autonomous functions, to account for 50 percent of new cars in the nation by 2020.

China will not stop its efforts to expand opening up and reform, nor will it close doors to the outside world, Xi said.