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The government should increase its public spending and optimize its spending structure, while deepening fiscal and tax reforms and launching structural tax-reduction, Li went on.

Wang said he hopes to promote mutual cooperation in financial sectors, including the acceleration of negotiations regarding the establishment of a cross-Strait monetary settlement mechanism.

BRUSSELS, May 30 (Xinhua) -- A senior official with the Communist Party of China (CPC) on Wednesday stressed that China supports Europe's integration process as well as its efforts to deal with the sovereign debt crisis.

"Against such backdrop, it is of more pragmatic importance to be firmly committed to dialogue and negotiations in order to properly solve the Iranian nuclear issue," said Wang.

Hu said the central authorities were confident that Leung and the new HKSAR government would unite and lead the Hong Kong people to develop the economy, improve people's livelihoods, and promote democracy and social harmony.