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Today, almost eight years after the international financial crisis struck, the ripples of its implication are still being felt around the world. The world economy is going through profound adjustments. Developed economies are experiencing slow recovery and emerging economies are performing unevenly. Global trade continues to contract, and both global commodities prices and financial markets are fluctuating. Geopolitical risks are growing, and uncertainties and destabilizing factors are on the rise. In Asia, the problems of underdevelopment and imbalances remain acute. Many Asian countries are faced with export decline, growing debts, and economic slowdown. Some have even witnessed sharp depreciation of their currencies coupled with faster capital flight. No wonder some say that the Asian economy is facing one of the toughest times in recent years.

China will keep cutting red tape to streamline processes such as applying for company names or trade marks, will and improve advertisement regulations, according to Zhang.

It will be a revolutionary effort that will overturn the conventional wisdom that coal is not clean, and positively impact efforts to curb smog, the minister said.

He called for efforts to protect tourists' interests, create a fair market environment to boost the development of the tourism industry.