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China will phase out the equity cap on automotive joint ventures by 2022, with the cap on manufacturers of new energy vehicles and special-use vehicles to be removed later this year, according to the National Development and Reform Commission.The commission reported the cap will be removed for commercial car producers in 2020 and passenger car producers in 2022. International carmakers will be allowed to have more than two joint ventures as well.

China's CO2 emission per unit of GDP dropped by 26.2 percent from 2011 to 2016 and the country is on course to cut emission intensity down to 40-45 percent below 2005 level by 2020, and further to 60-65 percent lower than 2005 by 2030, when overall carbon emission of China peaks.

China will maintain the principle that houses are for living in and not for speculation, rather than using real estate as a short-term means to stimulate the economy, Han noted.

China will have the rotating presidency of the SCO next year. Xi will talk with other leaders at the summit about making the SCO stronger and a bigger contributor to global peace and stability, Li said.

China's agriculture and food system is less dependent on the international market compared with other sectors, with both its export share of the entire output and its import share of the entire demand below 5 percent. As a result, employment in the agriculture-food system is about to return to normal even without a complete recovery of the import and export trade, said the report.