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The non-public sectors of the economy, including individual businesses and private firms, are an important part of the socialist market economy, the premier said, adding that they create 40 percent of the country's jobs and play a significant part in stimulating growth and market vitality, creating wealth and meeting the diverse demand of Chinese consumers.

The addition and dismissal of several CPPCC National Committee memberships were also approved during the meeting.

BEIJING, Dec. 19 (Xinhua) -- It is time for predictions about the coming year, and you are bound to hear more than a few scary prophecies about an imminent economic hard landing in China, triggered by a debt crisis, a bursting property bubble, financial turmoil and more..

Chinese investment and financing in Ecuador have exceeded 10 billion dollars and have helped with hundreds of infrastructure projects, including highways and hydropower plants. This includes Coca Codo Sinclair, the country's largest hydropower plant in its northeast, which was inaugurated by the two presidents on Friday.

Punishment for evasion or fraud are not specified, but offenders will be held liable in line with the law on administration of taxation and the environmental law.