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The long-term care insurance system will help increase the occupancy rate of some elderly services facilities given a number of elderly people can hardly afford the expenses, according to Tang.

Bond issuance interest rates saw notable declines last year, with that of 10-year treasury bonds issued in December dropping 57 basis points from the same period in the previous year to 3.25 percent.

Ning Jizhe, deputy director of the National Development and Reform Commission, mentioned a three-year action plan to increase household incomes and consumption power. He said that new measures would be taken to boost the consumption of automobiles, home appliances and other popular goods.

This is evidenced by the fact that 125 countries and 29 international organizations have so far signed cooperation agreements with China on jointly building the Belt and Road, according to data published in March on China's official Belt and Road web portal.

The practical cooperation between the two countries has yielded fruitful results, bringing tangible benefits to the two peoples, said Xi, adding that the bilateral cultural and people-to-people exchanges are rich and colorful, and have enhanced mutual understanding and friendship.