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China has been stepping up efforts to improve financing efficiency for the real economy, with targeted measures to expand financing channels and reduce financing costs for small and micro firms.

China has always attached importance to developing relationships with countries in Pacific Islands and the forum, she said, adding that it will continue to strengthen exchanges and cooperation with those states on the basis of the one-China principle.

China has carried out a major revamp of government institutions this year and established new agencies such as the creation of a state market regulatory administration.Xi said the purpose is to remove systemic and institutional obstacles that prevent the market from playing a decisive role in resource allocation, and to enable the government to serve a better function.

China has paved or renovated over 4 million kilometers of roads in the vast rural areas since the founding of New China, which has benefited more than 600 million farmers, he said.

China began community correction pilot programs in 2003.