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"Chinese government will certainly stick to this position," Wang said, adding that more than 30 countries, including Australia, have also made similar "exclusive" declarations.

While stimulation on the demand side tends to be short-lived, Chinese leaders hope supply-side reform can generate sustainable and quality growth.

Research has been conducted in the past year, it said, adding a detailed plan will be unveiled after all preparation is finished.

China and other claimants of the South China Sea have the capacity to work out their disputes through dialogue and negotiation. As a non-claimant, the U.S. should make good on its repeated commitment that it does not take a position on competing territorial claims.

Daniel Russel, top U.S. diplomat for East Asia, commented recently that the upcoming ruling by an international tribunal on the arbitration case brought by the Philippines would be a critical moment for the "rules-based" future of the region.