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China will improve the supply of commercial insurance products for people aged 60 years and above by stepping up research and product innovation in this field. [Photo/IC]

China will enhance coordination in financial regulation to manage the timing and pace of regulation to stabilize market expectations, according to a quarterly monetary policy report released by the People's Bank of China (PBOC).

China's GDP growth next year is expected to be stable at 6.3 percent, despite headwinds, according to the Chinese Academy of Social Sciences, and economists suggested that the country should continue to press ahead with structural reforms to boost growth.

China will ensure the creation of more than 11 million urban jobs this year and administer the employment-first policy as part of macroeconomic policy on the same level as fiscal and monetary policy for the first time, Premier Li Keqiang said on Friday in Beijing.

China will keep a prudent monetary policy, maintain market liquidity at a reasonably ample level, and take rational steps in structural deleveraging, Wang told the paper.