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China's business environment showed one of the strongest improvements worldwide in the 12 months ending May 1 thanks to its robust reform agenda, according to the World Bank Group's Doing Business 2020 study issued in late October.
China will roll out a guideline on intensifying administrative punishments for legal breaches of the financial system, step up efforts to enhance the quality of audits, and promote the smooth transformation of asset management business, the statement said.
China's R&D spending increased to 2.18 percent of its GDP last year, up by 0.06 percentage points, previous NBS data showed. [Photo/IC]
China will continue to support the construction of roads in poor regions, so as to ensure these areas are connected by highways by 2020.
China will set up a committee under the State Council to oversee financial stability and development and the central bank will play a stronger role in macro prudential management and guarding against systemic risks, according to Xi.
