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China's Geely Auto and Swedish brand Volvo Cars, both subsidiaries of Zhejiang Geely Holding Group, are planning to merge their businesses, a move that is expected to create the country's first truly global and most valuable carmaker.

China will improve the legal system regarding food safety issues and ensure individuals violating food safety laws are found and exposed publicly.

China will give greater emphasis to opening-up based on rules and institutions, in a bid to pursue high-quality growth and assure an international competitive edge to its business environment, said Vice-Minister of Commerce Qian Keming.

China's Ping An Insurance for example has launched a campaign addressing rural poverty, establishing a fund that will help promote and subsidize grassroots initiatives.

China will roll out more measures this year to lower overall business costs, according to officials with the nation's top economic regulator.