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China will further beef up its fight against money laundering, funding for terrorism and tax evasion as the central government calls for intensified supervision efforts to ensure the implementation of reforms.

China's GDP was 74.4 trillion yuan in 2016, and is projected to surpass that of the United States by 2025, according to Niu Li, director of the economic forecast department under China Information Center.

China will raise foreign ownership limits in domestic financial firms and grant foreign investors greater access to the financial services market of the world's second-largest economy, a top official said on Friday.

China will work with other members to promote its development including developing a five-year outline for the implementation of the treaty on long-term good neighborliness, friendship and cooperation, concluding or ratifying a number of resolutions or documents concerning security, economic, environmental and cultural cooperation, and advancing Belt and Road projects in SCO member states, the minister said.

China will move faster to put in place a housing system that ensures supply through multiple sources and encourages both housing purchases and rentals, according to the annual Central Economic Work Conference last month.