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BEIJING, May 30 (Xinhua) -- The State Council, or China's cabinet, on Wednesday adopted a plan to boost the development of seven strategic emerging industries amid the country's economic slowdown.

Challenged by a sluggish external market, China lowered its full-year growth target for 2012 to 7.5 percent in early March, after its economy grew 9.2 percent year-on-year last year.

"The key to lowering the threshold for private capital lies in administration in accordance with law," said Wei Yingning, former vice-chairman of China Insurance Regulatory Commission.

Wu said the new ticket system is under development and the Ministry of Railways will solicit opinions on it from the public via the Internet.

Under the current international situation, the two countries are blessed with important opportunities to develop their relations. China stands ready to work together with India to uphold good-neighbourly friendship, expand mutually beneficial cooperation, increase people-to-people exchanges and enhance coordination on international and regional issues, thus advancing China-India relations to new heights, he added.