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China will accelerate developing laws and regulations governing the financial sector, improve macro prudential management and emphasize functional as well as behavioral regulation, according to Xi.

Yu Zhengsheng, chairman of the National Committee of the Chinese People's Political Consultative Conference, chaired and addressed the meeting.

During the meeting, President Xi said that great development has been realized in the area of sports during the past five years, including the rapid growth of the "Fitness-For-All" project, remarkable achievements in competitive sports on the world stage, the further deepening of sports reforms, and Beijing's successful bid for the 2022 Winter Olympic Games.

China will defend its territorial sovereignty, safeguard the principles of international law and the basic norms of international relations, Geng said.

They have pursued businesses and entities which break environmental laws, strengthening otherwise weak local environmental protection agencies.