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Li stressed that governments at all levels should streamline administration, improve their services, as well as raise administrative and resource-allocation efficiencies.

Dollar said it's good for China to gradually get rid of the excess capacity as "quite a few workers will lose their jobs," but he warned that there's a risk in the financial sector if China does not move quickly enough to do that.

The economic growth target, which is lower than last year's "around 7 percent," won 17 percent of votes in the survey, while 14 percent of respondents went for the defense budget, which is expected to rise by 7.6 percent in 2016, the lowest level in six years.

-- The Standing Committee of the 12th CPPCC National Committee will meet in the morning.

"Our focus should rather remain on structural reforms. What is desirable is innovation, deregulation, more competition, and greater openness," said Li.