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Efforts would focus on about 700 key items that involve business creation, investment, employment and innovation. The progress of cutting these approvals is going well, he said in response to a question from a lawmaker Lyv Wei who asked for specific introduction into government plans to streamline administrative approval system.

Fourth, the Chinese leader called on the two countries to promote cooperation on international affairs and under multilateral mechanisms.

Najib started his China visit on Tuesday in Xi'an, capital of northwest China's Shaanxi Province. He came to Beijing on Wednesday for more political and cultural events.

In a bid to enrich naval relations and promote the deepening of cooperation and exchanges between us, the two navies should discuss a dialogue mechanism, and strengthen exchanges between fleets, especially front-line fleets, according to Wu.

China will deepen financial reform, promote pilot programs for private banks, and develop a multi-tiered capital market. It will also continue reform of state-owned enterprises.