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China has accelerated its drive to develop Artificial Intelligence. The AIIA was established last October and is composed of hundreds of leading companies and institutes promoting the integration of AI resources.

China has implemented 260 reform measures that were tested and used at the various pilot free trade zones over the last six years, an indication of the nation's renewed commitment to deepen reform and expand opening-up to shore up economic growth, government officials said on Friday.

China has all the confidence as well as capability to meet projected targets for economic and social development as the economy has strong resilience, great potential and ample room to maneuver, Ning said.

China built the deposit insurance mechanism in 2015, under which a special fund was collected by the central bank to ensure depositors can get certain compensation if the bank fails.

China has issued a series of policies to tighten financial regulation, especially since last year, to ensure there will not be any eruption of systemic financial risks.