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The Standing Committee of the NPC authorized the State Council on Dec. 27, 2015 to adjust rules, based on the securities law, to allow stock listings to be changed from an approval-based to registration-based system. The mandate will expire on Feb. 28, 2018.

Meanwhile, Joseph Matthews, director of the Association of Southeast Asian Nations (ASEAN) Education Center, said China's economic development in the last four decades was a great inspiration for the least developed countries such as Cambodia, Laos and Myanmar.

In sectors such as mobile payment, e-commerce and new energy, China ranks among the world's leaders, Wang said.

"Developing financial literacy skills and knowledge is critical now that individuals are becoming increasingly responsible at an ever earlier age regarding financial risks affecting their future," said Angel Gurria, OECD secretary general, at the launch of the report in Washington.