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China's domestic tourism industry earned about 3.9 trillion yuan in 2016, and the country plans to raise tourism revenue to 7 trillion yuan by 2020.

China's interest rate reform was seen as the most crucial and fundamental measure that could reshape the whole financial pricing system in China. The reform has been going on for quite some time, starting from the 1990s, still without a final and "real" liberalization in the system.

China's finance ministry will coordinate with other government departments to introduce a policy regime which supervises and evaluates the pilot program that will transfer shares of State-owned enterprises and financial institutions to the country's social security fund.

China's goal to reduce about 2 trillion yuan in tax and fee income in 2019 has been labeled by observers as the central government's most aggressive reduction plan ever. It also is a primary reason that the government has reduced projections for income growth. Taxes usually account for more than 80 percent of government revenue.

China's economy may grow slightly slower in the second half of the year but will remain robust supported by improved external demand and domestic private investment, a leading economist at Morgan Stanley said on Monday.