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Production and business operation will be suspended for rectification, while drug registration certificates and even pharmaceutical production licenses can be revoked, it says.

To achieve these ambitious goals, China will break barriers that restrict the free flow of resources -- such as capital, talents, information -- between urban and rural areas, and inject new impetus to the countryside.

DEEPER UNDERSTANDING

Policy coordination is key to smooth cooperation. Beijing never tries to impose the BRI on others but pays close attention to aligning the initiative with the development strategies of its BRI partners. So far, it has signed policy agreements with other BRI participants on rules and standards, taxation, intellectual property protection and disputes settlement.

At present, the shares of foreign-funded banks and insurance companies' total assets have reached 1.64 percent and 6.36 percent, respectively, in China.