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China has improved regulation to maintain stability in the fiscal, financial and real estate sectors, said He Lifeng, head of the National Development and Reform Commission, at a five-day bimonthly session of the National People's Congress Standing Committee that opened Monday.

China celebrates its National Day on Oct 1, which coincided with the traditional Mid-Autumn Festival this year, thus extending the National Day holiday to eight days until Oct 8.

China has a four-tier color alert system for pollution, with red the highest, followed by orange, yellow and blue. It also has a corresponding four-level emergency response system, with Level I calling for a top emergency response and Level IV representing the lowest.

China had also fulfilled all of its commitments on trade in services by 2007, and opened up 100 sub-sectors under nine sectors.

China has achieved the largest tax cut so far through its value-added tax reform, with the total reduction rising by 60 percent in 2017 from a year earlier, according to data released by the State Administration of Taxation.