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Higher education has entered the stage of universal access in China, Sun said at the meeting, adding that China is making further efforts to improve the quality of education.

A credit repair mechanism, which is conducive to self-correction, will be established. Entities will be allowed to fix negative credit records, unless otherwise stipulated by laws and regulations, should they correct dishonest behaviors and eliminate adverse impact. Relevant departments shall remove entities, who meet credit repair eligibility, from the list in a timely manner.

Analysts say that China's continued opening-up efforts and deepening international cooperation under the new development pattern will offer more opportunities to the world and bring shared prosperity for all.

Third, Xi urged all parties to boost confidence and pursue a new approach to climate governance that highlights green recovery.

Online peer-to-peer (P2P) lending, where investors sidestep traditional lenders such as banks to lend directly to borrowers, exited the innovation arena this year as a result of the country's ongoing efforts to crack down on risky forms of financing.