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China will continue to ease foreign ownership restrictions in fields like finance, healthcare and elderly care, he said.

China started the pilot program in 2016 in an effort to reduce the intensity of farming and ease worsening pollution caused by agricultural production.

China said on Monday its dispatching of a rescue ship to the Nansha Islands shows its commitment to fulfilling its duty in the South China Sea. Dispatched by the Nanhai Rescue Bureau of the Ministry of Transport, the Nanhaijiu 115 set sail for Zhubi Reef from Sanya, Hainan province, on Friday, Xinhua News Agency reported.

China should also prevent and defuse major risks related to foreign exchange, take a firm hand against fake transactions, illegal bank-style organizations, and illegal forex transaction platforms.

China now has a strong footing and is expected to become the world's fastest-growing digital wealth management market, with technology playing an even greater role in the industry, the report said.