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China's TMT industries have been a real magnet to global capital over more than a decade, with a lot of internet-based innovations having been supported by dollar-denominated venture capital funds, according to Tian.

China will further ease the process of completing immovable property registrations to lessen paperwork burdens for businesses and individuals, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.

China will implement strict regulations in this year's college enrollment of student athletes and artists, the Ministry of Education said in a notice published on Dec 11.

China will continue to take supply-side structural reform as its main task, and work to address major weaknesses in research and development, engineering, and industrialization to enhance our innovation capabilities and promote the high-quality development of major technical equipment, according to Miao.

China will implement its proactive fiscal policy with larger tax cuts this year, and more effective measures will be unveiled in the coming months, officials said. The aim is to strengthen economic growth and deepen supply-side structural reform, according to the policy tone-setting annual Central Economic Work Conference held in December.