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China should protect private property rights and ensure fair competition between public and private companies so that entrepreneurs are keen to invest in emerging industries and are willing to withdraw from industries that have excess capacity.

China needs to expand the opening-up of the financial industry to pursue high-level economic opening-up, said Lu Lei, deputy head of the State Administration of Foreign Exchange. Expanded opening-up can also help ease the negative effects of China-US frictions and anti-globalization sentiment in some countries.

China may begin to carry out newly announced economic stimulus measures as soon as April to help shore up domestic demand and achieve economic development goals, economists said on Sunday.

China is very farsighted in investing in automation, Jouret said. As the cost of labor increases, the amount of value created per worker has to increase as well, and therefore the automation is important.

China will continue to make arduous efforts to honor its promise to have its carbon emissions peak by around 2030 and promote global climate governance in a more fair, reasonable and collaborative way, Premier Li Keqiang said.