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Business system reform started in 2013 to reduce administrative procedures, optimize market supervision and establish supporting platforms.

7) The pace to create a new pattern of opening up was accelerated. Guidelines on building new systems for an open economy were issued and implemented. The Vision and Action Plan for Jointly Building the Silk Road Economic Belt and the 21st Century Maritime Silk Road (the Belt and Road) was officially published, and progress was achieved in the development of six economic corridors and six channels for communications and distribution with key countries and ports serving as connection hubs*. Direct investments totaling US$ 14.8 billion were made to the countries involved in the Belt and Road Initiative, an increase of 18.2% over the previous year. The guidelines on international cooperation on industrial capacity and equipment manufacturing were released and implemented, and breakthroughs were made in China's rail transit technology and nuclear power "going global" . The Asian Infrastructure Investment Bank was officially established and the Silk Road Fund was put into operation. Guidelines relating to certain policies and measures supporting the development and opening up of major border areas were published. As a result of implementing the revised Catalog for the Guidance of Industries for Foreign Investment, the number of industries in which foreign investment is restricted was cut by 50%, the number of industries in which the amount of foreign investment is limited was reduced by 40%, and over 95% of all foreign investment projects are now only required to be placed on record with relevant authorities. The model for managing foreign debt was transformed so that foreign debt needs only to be registered instead of reviewed and approved. An additional three pilot free trade zones were established in Guangdong, Tianjin, and Fujian, and the China (Shanghai) Pilot Free Trade Zone was extended in area. Free trade agreements with the Republic of Korea (RoK) and Australia were signed respectively, as was the Protocol to Amend the Framework Agreement on Comprehensive Economic Cooperation between ASEAN and the People's Republic of China. Non-financial foreign direct investment totaled US$ 126.3 billion, a year-on-year increase of 5.6%, of which the service sector accounted for over 60%. Non-financial outward direct investment amounted to US$ 118 billion, an increase of 14.7%.

Earlier in January, the central government published a nuclear white paper detailing policies and measures relating to nuclear emergency preparedness and highlighting a "rational, coordinated and balanced" approach to nuclear security.

BEIJING, March 9 (Xinhua) -- China has set its deficit-to-GDP ratio at 3 percent, in a safe range and helpful to overcome deflation, an expert said on Wednesday.

The country will support a sharing economy and see that resources are used more efficiently and more people can take part and benefit.