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Liu called on the authorities to promote socialist core values and traditional Chinese virtues, and advocate green and carbon-efficient lifestyles.

Chen Weiwen, a national legislator and head of the Taiwan Democratic Self-Government League Guangdong Provincial Committee, said Xi's remarks reiterate the Chinese mainland's bottom line. It is also a stern warning against the Taiwan independence activists.

Box 5: Reform of SOEs

At the end of February, yuan-denominated deposits stood at 138.6 trillion yuan, up 13.3 percent. In February alone, yuan-denominated deposits gained 846.7 billion yuan.

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.