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China has reiterated the principle that "houses are for living in, not speculation." However, while curbing housing speculation, China will also implement city-specific policies in the sector, according to this year's government work report.

China has set the goal of peaking carbon dioxide emissions before 2030 and achieving carbon neutrality before 2060.

China is determined to conduct market-oriented reforms, Li said. The Chinese government will make more pragmatic moves in deepening reforms with stronger determination and strength, transform functions of the government, and strengthen intellectual property rights protection and market regulation to build a globally-competitive business environment, he said.

China is gearing up for more moves to bolster reform and opening-up after President Xi Jinping pledged at the opening of the Second Belt and Road Forum for International Cooperation last month to ease market access for foreign capital, increase imports of goods and services on a larger scale, and boost the protection of intellectual property rights.

China is already deeply involved in many levels of the global value chain, which allows the country to share the dividends of globalization. The country used to rely on imports of key parts and components in mechanical and electronic equipment and aerospace due to domestic shortcomings in such key technologies.