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The CPC Central Committee's decision to deepen the reform of Party and state institutions was absolutely correct, and the organizing and implementation of the reform were resolute and efficient, Xi said, noting that it showed the political advantages originating in the Party's centralized and unified leadership and the country's socialist system.

BEIJING, July 5 (Xinhua) -- Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on Friday stressed consolidating the achievements in the reform of Party and state institutions and modernizing China's system and capacity for governance.

The coordinators' meeting will be held in Beijing from June 24 to 25. There will be over 80 African ministerial-level officials at the meeting. On the sidelines of the meeting, more than 40 bilateral and multilateral activities will be held to implement the outcomes of the FOCAC Beijing Summit, synergize efforts, consolidate consensus and deliver more benefits to the peoples.

New mechanisms for financing and investment will be used. Starting from this year, government-subsidized urban housing projects will receive funding support from the central government. Financial institutions and local governments will be encouraged to explore sustainable ways to increase financial support for the renovation of old residential communities. Market-based approaches will be employed to attract the participation by private actors. Long-term mechanisms will be established for follow-up community management.

Efforts should be made to ensure the accomplishment of the annual goal of tax and fee cuts of nearly 2 trillion yuan (about 291 billion U.S. dollars), and improve the transmission mechanism of monetary policy to reduce financing costs for small and micro firms, Li added.