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The top legislator called on the two countries to enhance collaboration on implementing the consensus reached during the FOCAC summit and constantly deepen bilateral relations.

China do not want to see the world divided again by exclusive military blocks, and opposes the repression by the U.S. and other Western countries on China's political system, Fu Ying, chairwoman of the Foreign Affairs Committee of the National People's Congress of China, told a panel discussion at the Munich Security Conference.

First, we need to jointly uphold peace and stability. When we drink water, we should not forget its source. Asia owes the past decades of rapid growth to an environment of overall peace and stability in the region. As the saying goes, good neighbors mean good life. The past sufferings of war and turmoil have taught the Asian people the value of peace. Asia's post-war development shows that at all development stages, we must stay committed to good-neighborliness and must never let the minor differences or disagreements between us stand in our way. It is through dialogue and cooperation that we could find the "golden key" to development. We need to continue to treat each other as equals and live with each other in peace, and we need to work together to increase common ground, reduce differences, and build a solid foundation for peace and stability in the region.

"Banks are holding a lot of loans taken out by those zombie enterprises. When you close enterprises, you're going to do some kind of clean-up when you take the bad loans off the banks' balance sheets. There really needs to be done pretty quickly," he said.

The work aims to address problems such as overlapped and conflicting standards and establish a unified national mandatory standard system, the cabinet said.