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"By pregnant women participating in the race, it's an indication that the initiative is working," he said. "It's wonderful to see several foreigners supporting the initiative. We can learn from what they are doing in their home countries while others can learn from us and take it back home as best practices towards universal healthcare."

"China is becoming increasingly an innovation leader, as opposed to just playing the role of catching up with other advanced economies," Fu said.

"But we are not fretting about the possibility that food prices will register a continuous, higher-than-expected rise," said Li Chao, chief macroeconomic analyst at Hua?tai Securities.

"By making this adjustment, the regulator hopes that banks will fully expose their non-performing loans and truly disclose their risk situation with more accurate capital adequacy ratios and coverage ratios of allowance for loan impairment losses to NPLs. It will be favorable for them to write off and resolve bad assets," said Xiong Qiyue, a research fellow at the Institute of International Finance at Bank of China Ltd.

"China has always fulfilled its obligations, kept its promises and made significant contributions to the world economy by paying great efforts and costs since it joined the WTO 17 years ago," Foreign Ministry spokesperson Hua Chunying told a routine press briefing.