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China has issued more than 6,400 force majeure certificates to help companies avoid penalties for not being able to meet contractual obligations amid novel coronavirus outbreak. [Photo/Sipa]

China has lifted more than 60 million people out of poverty in the past five years, with the poverty rate dropping from 10.2 percent to less than 4 percent. As of the end of 2016, there were 43.35 million Chinese living below the national poverty line.

China currently has about 250 million people aged over 60. Before the seniors apply for elderly care services, they need to be evaluated in various aspects, including cognitive abilities, emotional behavior, and activities of daily living, to receive specific types of nursing care, according to Jiang.

China had remained the world's largest automobile manufacturer and market for eight consecutive years by 2016, with auto sales up 13.7 percent to more than 28 million units last year.

China has been tightening controls on the financial sector since the second half of last year to prevent such potential risks as rising debt levels from worsening and possibly affecting overall financial stability. While analysts said that is necessary, it has brought concerns that it could dampen normal economic activities and be a drag on growth.