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China has set the baseline task to lift all people out of poverty by 2020 and build an "all-round well-off society," or a moderately prosperous society, in all respects.

China has slashed NEV subsidies by 50 percent since July and plans to phase out all subsidies by the end of 2020. The policy change weakens carmakers' enthusiasm to large-scale production and promotion of NEVs, the association said.

China is on track to meet its target to cut coal production capacity this year - and would likely top the goal - with further reductions expected in the second half, according to a leading expert on the sector.

China is scheduled to release a set of key economic data for December this week including consumer price index, social financing, money supply growth and foreign direct investment.

China is considering more measures like liquidity injections and interest rate cuts to ease credit shortages and stimulate economic growth, analysts said on Monday.