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The five theater commands, under the administration of the CMC, are formed based on the functions and organs of the former military area commands, with the functions of command and logistics support improved, said Yang.

Like running a bullet train, to develop the economy, the first thing is stability and safety. In the past few years, we have adopted innovative approaches to macro-control, including a new range-based approach. We have set it our upper limit to keep price rises in control and our minimum target to ensure sufficient employment. This range-based approach has effectively stabilized market expectations. This year, we expect the economy to grow by 6.5%-7%, a new range designed to allow certain flexibility with the growth target. Short-term and minor fluctuations in the economy can hardly be avoidable. We will not try to redress these minor fluctuations with moves that are against market rules. But once the economy slips out of the reasonable range, we will definitely take overarching measures in line with the laws of the economy. Currently, the debt-to-GDP ratio of the Chinese government is less than 40%, and for the central government, it is only 17%. We also have a high savings rate. The space is ample to develop a multi-tiered capital market, and new tools are available to introduce innovative regulatory measures to the financial sector. We are not only well positioned to prevent systemic, regional financial risks, but also supported by enough policy tools to keep the economy steady. Last year, for instance, with collaboration among relevant agencies and financial institutions, special funds for specific projects were raised and used based on market-based approaches to expand effective investment. Such an approach strongly facilitated economic restructuring and ensured steady growth. This year, we will continue this practice.

China will gradually open up industries that are monopolized by state-owned enterprises for the participation of private and foreign companies. He did not specify which industries they would be.

The drop in total social finance is "eye-catching, but it would be wrong to conclude that lending is falling off a cliff. The one-week holiday for Lunar New Year in February meant some loans were dragged forward into January," and January's record total also prompted the central bank to "crack down on excess lending at some banks. That always made a slump in February a possibility," he noted.

Local officials and members of the public across Xinjiang's many ethnic groups have actively engaged in the fight against terrorists, he noted.