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China's grain production capacity, agricultural modernization and farmers' incomes have improved tremendously in the past decades, and this has established the foundations to shift the focus, Han said.

China's outbound tourism will continue under tight controls as the country intensifies efforts to cope with the rising risks of imported infections of the novel coronavirus during winter, a senior official said on Thursday.

China's monetary stimulus has been restrained compared to other major economies. In 2020, Chinese M2, a broad measure of the money supply, has risen at a growth rate of between 10.5 and 11.5 percent, compared to 8.0-8.5 percent in 2019.This additional money flowing into the economy is only enough to result in a mild increase in inflation in the worst case scenario.

China's economic growth has slowed in the past two years but still showed "clear advantage" compared with other emerging markets and advanced economies, Huang said.

China's investment growth is expected to maintain steady momentum during the rest of the year on the back of adequate funding and an increasing number of projects, the country's top economic regulator said on Wednesday.