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China is currently on course to loosen the cap on foreign ownership in joint ventures to attract more foreign funds to its financial market. The government had previously pledged to lift the limit from 50 percent to 51 percent in the insurance sector in three years and fully remove it after five years.

China has the largest labor pool in the world, giving it huge potential and advantages, Li said. As the nation's education system improves, the quality of the country's labor force has been improving, with an increasing number of high-quality technical professionals, he said. Difficulties can be overcome as long as the enthusiasm and creativity of millions of workers are stimulated, the premier told labor representatives at the congress.

China is the world's largest e-commerce market, accounting for more than 40 percent of the value of worldwide transactions, and in terms of mobile payments, China now has a transaction value 11 times that of the United States, according to a recent report by McKinsey Global Institute.

China hopes to use the 45th year anniversary to push China-EU relations to be more stable and mature, Wang said.

China has set 2020 as the target year to complete the building of a moderately prosperous society, and eradicating poverty.