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China has unveiled measures to stabilize the job market, with steps to establish an early warning mechanism for large-scale layoffs and unemployment risks amid mounting downward pressure on the economy.

China hopes the ROK will take the opportunities brought by China's development and actively participate in jointly building the Belt and Road, expand cooperation in third-party markets and speed up the second round of free trade agreement talks, he said.

China has pledged further measures to ease financing difficulties of small private enterprises this year. Among the measures in the pipeline is the deepening interest rate liberalization, which will likely help lower the interest rates faced by them, according to the officials concerned.

China is home to 306.7 million hectares of forest, 400 million hectares of grassland, 53.3 million hectares of wetland and another 53.3 million hectares of governable sand land, which constitutes a huge resource potential and market advantage, said Peng Youdong, deputy head of the administration.

China is currently on its way to develop innovative industries, which must be close to talent centers and must have gathered sufficient resources. This means that new first-tier cities need to gain new competitive advantages in industrial transformation and increase the attractiveness of population inflows, Sun said.