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Chinese President Xi Jinping had in his keynote speech at the event's opening ceremony on Nov 5 highlighted the important role that Shanghai has to play in the nation's slew of opening-up initiatives, including the expansion of the China (Shanghai) Pilot Free Trade Zone, the launch of a science and technology innovation board at the Shanghai Stock Exchange and experimenting with a registration system for listed companies, as well as the integrated development of the Yangtze River Delta region.

China, haunted by severe pollution after three decades of rapid economic growth, started to switch to a more sustainable growth model years ago, with less emphasis on GDP growth and more on sustainable growth.

China's sweeping campaign against corruption brought a long string of victories last year, as the list of senior officials taken down continued to expand, especially in the financial sector.

China's property market cooled last year, with the government's efforts to rein in speculation, such as purchase restrictions and higher downpayment requirements.

China, he stressed, is committed to settling disputes through dialogue and resolving differences through discussion. It seeks to address traditional and non-traditional security threats in a coordinated manner, and opposes terrorism in all its forms.