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"We will press ahead with the reform of the RMB exchange rate formation mechanism in line with the principles of independence, gradualism and controllability, enhance communication with the market, and keep the RMB exchange rate basically stable at an adaptive and equilibrium level," he said.

From 2012 to the first half of 2015, the measure has resulted in tax savings of over 484.8 billion yuan (75 billion U.S. dollars) for enterprises, accounting for 0.2 percent of GDP in the period, according to an earlier report by China International Capital Corp. Ltd. (CICC), the country's first joint venture investment bank.

Schools in Changsha and Changzhou have been told to start winter holiday a few days ahead of schedule, while education authorities in Hangzhou have allowed students not to come to school.

"China is exploring a new way of Internet governance with rule of law at its core," said Lu Wei, head of the Cyberspace Administration of China, the top Internet regulator.

Xi made the remarks while visiting an expo, themed "Light of the Internet," displaying the latest Internet technologies and products in China and abroad. The exhibition is part of the Second World Internet Conference held from Wednesday to Friday in the river town of Wuzhen in east China's Zhejiang Province.