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Starting Wednesday, under a new agreement announced during the Asia-Pacific Economic Cooperation summit in Beijing, China and the U.S. will grant each other's citizens business or tourist visas with maximum validity of ten years. The validity of student visas will also be extended to up to five years.

She said that the conference will also play a positive role in realizing paid vacations, which will help meet people's travel needs and relieve pressure during Golden Week.

China intends to peak its carbon dioxide emissions around 2030 and increase the share of non-fossil fuels in primary energy consumption to around 20 percent by 2030.

The finance ministers said they welcome the efforts of APEC members to support capacity building and project development for infrastructure PPPs, including China's decision to commit 5 million U.S. dollars from the China Poverty Reduction and Regional Cooperation fund in Asian Development Bank.

In March, China's State Council unveiled the New-Type Urbanization Plan for the 2014-2020 period in an effort to steer the country's urbanization onto a human-centered and environmentally friendly path.