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Gu said he expects sufficient demand for the crude futures contracts from both industrial and financial clients as they needed a tool to manage risk, and hedge against inflation.

There were still 30.46 million rural people living below the national poverty line at the end of 2017, according to the National Bureau of Statistics.

"Making money is not easy in the countryside. If they can't exchange the money, the family may be destitute. Helping them is my job and makes me feel good," said Liu.

At the BFA annual conference, the president unveiled new measures for expanding reform and opening-up, including significantly broadening market access, creating a more attractive investment environment, strengthening protection of intellectual property rights, and taking the initiative to expand imports.

China will continue its role in encouraging the concerned parties to use dialogue to achieve peace and stability on the Korean Peninsula, Lu said.