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Plus, the U.S. dollar appreciated against other currencies last year, Yi added.

Among the focus of the meeting is the exchange rate mechanism. For China, the currency yuan has been heading south since the government revamped the foreign exchange mechanism last year, and concerns about capital outflows have been on the rise.

Xi stressed that the current situation on the Korean Peninsula is complicated and sensitive.

China's foreign policy is also in the limelight as the country's lawmakers examine the 13th five-year plan. Foreign Minister Wang Yi will likely hold a press conference on the sidelines of the "Two Sessions" as done in the past.

Authorities said around 18:45 local time (GMT 1845) a bomb-laden vehicle hit a city bus from the rear end and triggered an explosion near the Guven Park area in downtown Ankara, close to government buildings and the Supreme Court.