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"The lower year-on-year CPI was largely due to a high comparison base in February last year, when CPI stood at 2.9 percent," said Deng Haiqing, chief economist at JZ Securities, adding that February's CPI is likely to be the lowest monthly reading this year.

Reaffirming the Party's commitment to poverty reduction, Xi said that no one should be left behind as the country marches toward building a moderately prosperous society in all respects, and the assistance must be offered to everyone in need because "that makes a Communist party."

"Some U.S. enterprises may find it difficult to survive if quitting the Chinese market as a very large share of their profits come from China," said Liang Ming, a researcher with a research institute of the Ministry of Commerce.

In its latest annual government work report, China set the 2019 gross domestic product (GDP) growth target at 6-6.5 percent. The world's second-largest economy also pledges to continue pursuing high-quality development.

Zhang Junshe, a researcher with the Naval Research Academy under the Chinese Navy, said the joint exercise showed the high-level strategic mutual trust between the two countries' militaries, as both sides have sent some of their main vessels in service to the drill, and shared some performance information about their vessels and equipment in the drill.