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China will extend its supervisory system for primary and secondary schools to also cover preschools and kindergartens, a move designed to further monitor and ensure young students' safety, security and educational quality, the Ministry of Education said on Tuesday.

China's 13th Five-Year Plan (2016-2020), which aims to become an "innovation nation" by 2020, an international leader in innovation by 2030, and a world powerhouse in scientific and technological innovation by 2050, has for the first time incorporated accelerators into the national incubator system.

China will firmly expand domestic demand, optimize the pattern of the distribution of income, enlarge the middle-income group, and promote the deep integration of online and offline consumption. It will also cultivate new consumption demonstration cities, deepen the reform of deregulation, and accelerate the establishment of an oversight system that meets the requirements of the healthy development of modern consumption, Chang added.

China's 40-plus years of growth has been a wonder. Hundreds of millions of people have been lifted out of poverty and the nation's lifestyle has been transformed.

China's central bank followed the Fed's rate hikes to lift the open market operation interest rate twice, in March and December last year, respectively. The moves were targeted to keep a relatively stable interest rate spread between the two countries and maintain a stable Chinese currency. It stood pat in June after the Fed's second hike this year.