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"The essence of the 1992 Consensus is recognizing the one-China principle and denying the rhetoric saying that each side of the Taiwan Strait is a country," Chen said.

The government's role, as in Xi's philosophy, is "smart," while the market is "decisive."

One such case cited by top legislator in his report was a stock listing reform approved by the NPC Standing Committee in December last year to change the listing system on the Shanghai and Shenzhen bourses from approval-based to registration-based. Earlier report said the reform could be launched this month at the earliest.

Cao said his company, Fuyao Glass, a leading international manufacturer of automotive and industrial glass, increased its investment in the United States to 750 million dollars last year, after a comparison of the tax rates and other costs between the United States and China.

The new Anti-Terrorism Law defined the basic principles of China's anti-terrorism initiatives, improved working systems and mechanisms in this regard, and stepped up anti-terrorism efforts with regard to preventive safety measures, emergency response, international cooperation and supporting measures, Zhang said.