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Despite the rising protectionism in major economies, China has remained a staunch champion for free trade. In his report, Premier Li reiterated China's support for promoting economic globalization and protecting free trade.

The move will help pool high-end talents from across the globe and spawn leading scientists, as well as make China a country of innovators, according to the guidelines.

A total of 12 people have been confirmed dead, of whom four are from the Chinese mainland, five from Taiwan, one from the Philippines and two from Canada. A total of 278 people were injured in the earthquake.

SOE reform, aimed at improving efficiency and competitiveness through innovation, remains a priority for local governments this year. The southern coastal city of Shenzhen, Guangdong Province, has targeted growth of 9 percent or more in the total profit of municipal SOEs this year.

In Central and West Asia, the Initiative also helps regional countries to improve production and living facilities as well as facilitate economic and cultural exchanges.