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Villager Penpa from Tashigang said the tourism boom had greatly improved people's living standards.

In responding to the mounting downward pressure on the economy, we exercised targeted and well-timed regulation on the basis of range-based regulation. We adopted proactive fiscal policy that focused on increasing intensity and efficacy by expanding the scope of structural tax reductions, reducing fees across the board, and putting dormant budgetary funds to good use. Local government bonds issued to replace outstanding debt reached 3.2 trillion yuan, lessening the interest payment burden of local governments by approximately 200 billion yuan while also reducing their debt repayment pressure. We pursued prudent monetary policy with an appropriate amount of intensity, making several cuts to interest rates and required reserve ratios, reforming management of the loan-to-deposit ratio, creating new monetary policy tools, and increasing support for the real economy. Effective investment increased, special-purpose funds were established, and development was strengthened in areas in need of attention, including water conservancy, rundown urban areas and dilapidated rural housing, and railways and highways in the central and western regions. Consumer spending was promoted in key areas, spurring rapid growth in spending on recreational travel, online shopping, and information goods and services. In 2015, we also responded proactively to a variety of risks and challenges in the financial sector, such as unusual fluctuations in the stock market and the foreign exchange market, ensuring that no systemic or regional threats arose, thus safeguarding China's economic and financial security.

China's policy on the Middle East has nothing to do with expanding its sphere of influence or establishing proxies, but is about facilitating peace talks from an objective and impartial stance. The Belt and Road will deepen mutual pragmatic cooperation in this region.

Enterprises must do business and be managed in accordance with the law, and embrace corporate social responsibilities, added Yu.

China's military spending is budgeted to grow by around 7 percent to 8 percent in 2016, the slowest in six years, said Fu Ying, spokesperson for the National People's Congress (NPC) annual session on Friday.