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China will also take an active part in international cooperation on R&D of vaccines. When we are successful in developing a vaccine and put it to use, we will make it a global public good, especially ensuring vaccine accessibility and affordability in developing countries.

China plans to spend at least 2.7 trillion yuan on transportation infrastructure projects in 2020, including 800 billion yuan on railways, 1.8 trillion yuan on roads and waterways and 90 billion yuan on civil aviation facilities, according to the ministry.

China issued a document Monday which encourages local governments and financial institutions to use special bonds and other market-based financing methods to support key areas and major projects such as the coordinated development of the Beijing-Tianjin-Hebei region and the construction of the Yangtze River Economic Belt.

China set the tone of its monetary policy in 2017 as prudent and neutral, keeping an appropriate liquidity level but avoiding excessive liquidity injections.

China will continue to deepen reform of the income distribution system, increase the earnings of low-income groups, expand the number of middle-income groups, and increase people's spending power, Ning added.