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As part of efforts to provide low-income urban residents with affordable housing, China aims to complete renovation of rundown urban areas and dilapidated housing by 2020.

1) Support policies for agriculture were innovated and improved. Investment in agriculture, rural areas, and farmers continued to grow, and for the fifth consecutive year the proportion of funds appropriated for investment in these three areas from the central government budget exceeded 50% of total funds. The program for the review of state funds for agricultural development was successfully completed, and the trials of integrating and optimizing the use of provincial funds for agricultural development were launched. We worked steadily to improve the policy for setting minimum state grain purchase prices and the policy for the temporary state purchase and storage of grain, and solid progress was made in implementing pilot reforms for guaranteeing base prices for cotton in Xinjiang, and for soybean in the northeast and Inner Mongolia. We strengthened regulation over the market for major commodities such as grain, cotton, edible oil, sugar, and chemical fertilizers.

Of course, we are fully aware that the Chinese economy is now deeply integrated with the world economy. Some international agencies have lowered the growth forecast for this year and destabilizing factors and uncertainties are on the rise. The impact will be felt in the Chinese economy. At the same time, in China, the deep-seated structural problems have become more prominent, and the economy still faces growing downward pressure. As the economy goes through transformation and upgrading, temporary problems have occurred, and companies in certain industries are facing a hard time with their operation. We will not dodge these problems. In fact, knowing where problems are have made us all the more confident. We will expand aggregate demand as appropriate, and at the same time press ahead with structural reform, supply-side structural reform in particular. On the whole, for the Chinese economy, we believe there are more hopes than difficulties.

Li said President Xi will also meet with other state leaders on the sidelines of the nuclear security summit to exchange views on bilateral relations as well as international and regional issues of common concern.

"Construction projects for six to eight new generators are expected to begin each year from 2016 to 2020," Wang said.