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China saw 195 million tourists during the four-day holiday that ended on Saturday, a year-on-year increase of 13.7 percent, according to the Ministry of Culture and Tourism. The surge of travelers pushed tourism revenue to almost 117.67 billion yuan (.5 billion) nationwide, a 16.1 percent increase over last year.

China must reform its existing tax system, which gives local authorities a greater share of the tax income, as the aggressive tax cut program and economy-boosting spending has increased fiscal deficits, said analysts.

China is willing to work with Russia to further improve the cooperation committee mechanism and explore the "Northeast and Far East" cooperation mode, to inject new momentum into the comprehensive strategic partnership of coordination between China and Russia in a new era.

China unveiled on Friday a guideline to help deepen integration of advanced manufacturing and the modern services sector, a key move to accelerate industrial upgrading and foster high-quality development, according to the country's top economic regulator.

China on Thursday renewed a blue alert for Typhoon Soulik, which is expected to move northeast at a speed of about 10 km per hour, and make landfall on the Korean Peninsula Thursday evening, the National Meteorological Center said.