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Li said that the country will continue to innovate its macro-control ideologies, draw economic momentum from reforms and restructuring, and improve people's livelihoods.

The cooling housing market would also be conducive to ensuring steady consumer prices, he added.

The first is to invigorate the market through lowering market access thresholds, streamlining administrative examinations and approvals, freeing enterprises and facilitating investment and trade, he said.

He warned of the existing economic downturn pressure and demanded local governments stick to the target of stabilizing growth, promoting reforms, readjusting structure and improving people's livelihood, during a meeting attended by local officials of banks and industries.

Chinese President Xi Jinping has recently put forth the security concept for Asia featuring common, comprehensive, cooperative and sustainable security at the fourth Summit of the Conference on Interaction and Confidence Building Measures in Asia.