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Beijing also wants to promote the industrialization in the Middle East. To achieve that end, China is going to hand out a number of loan programs, including a 15-billion exclusive loan, a 10-billion business lending, and 10 billion concessional loans so as to facilitate industrial capacity cooperation between China and the regional countries, according to the president.

Xi extended his New Year wishes to Chinese people of all ethnic groups, compatriots in Hong Kong and Macao, compatriots in Taiwan and overseas Chinese, as well as friends from other countries and regions.

Li Shouwei, with the legislative affairs commission under with the National People's Congress (NPC) Standing Committee, said the law will not affect companies' normal business nor install backdoors to infringe intellectual property rights and freedom of speech.

"We encourage and support the expansion and optimization of mutual investment by enterprises from the two sides," the paper said, adding that China is ready to continue to provide foreign-aid loan on favorable terms to Arab countries, as well as export credits and overseas investment insurance.

The plans touched upon deep-rooted interest realignment which had long stalled, including judicial reform; fiscal and taxation reform; reform of the household registration (hukou) system; remuneration reform of state-owned enterprises, public hospital reform, rural land reform; and soccer reform.