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China needs to build strong armed forces more than any other time in history as the Chinese nation is closer to the goal of great rejuvenation than ever, Xi said, delivering a speech after overseeing the parade.

China pledged to deepen SOE reform in this year's annual government work report as a method to improve efficiency. Apart from measures like cutting capacity, managing "zombie companies," excising layers of hierarchy and calling for innovation among firms, China also introduced a mixed-ownership system.

China reiterated on Wednesday that all sides should continue to uphold the Iran nuclear agreement, and that the International Atomic Energy Agency (IAEA) has said many times Iran is in compliance with the deal.

China recorded a total of 415 million trips made by tourists and grossed 513.9 billion yuan (.14 billion) in tourism revenue between Feb 4 to 10, an increase of 7.6 percent and 8.2 percent, respectively, year-on-year.

China produced 3.55 billion tons of raw coal last year, up 5.2 percent year on year, according to the National Bureau of Statistics.