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China will adopt a more proactive fiscal policy by expanding central government budget deficit and increasing fund transfers to local governments to boost investment and maintain stable economic growth, according to the 2020 Government Work Report.

China vowed on Tuesday to beef up cooperation on infrastructure construction, agriculture and tourism with Gambia, the West African nation that resumed diplomatic ties with Beijing last year.

China will continue to create a good legal environment and further refine the business environment for private businesses, and it will unwaveringly develop the public sector and encourage, support, guide and protect the growth of the private sector, he said.

China revised its national economic industry classification in 2011, and has not updated it since.

China will boost the role of price-based monetary policy targets with interest rates as core, according to two sources with knowledge of the matter and a document seen by Reuters.