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Exploration and development should be peaceful and cooperative, in addition to protecting the maritime environment and safeguarding the common interests of mankind, it stipulates.

An upgraded Chinese economy means not only self-improvement for China but also opportunities for the world. Many countries in Asia are China's close neighbors and they will naturally be the first to benefit from China's development. A few days ago, China released the 13th Five-Year Plan for Economic and Social Development, which will take China towards the ambitious goal of finishing building a moderately prosperous society in all respects. In the next five years, China's economy will grow at an average annual rate of above 6.5%, import over US trillion of goods, and make US0 billion of outbound investment. Several hundred big projects and programs will be launched and put into operation. This will be an open process to be shared by all. I hope that the business communities present here will seize the good opportunity and achieve big success.

Chinese courts concluded the trial of 1,084 cases involving crimes that threatened state security, Zhou told a plenary meeting of the ongoing session of the National People's Congress (NPC).

"Structural reforms are to focus on addressing overcapacity problems, improving productivity, lowering the tax burden on enterprises and facilitating access to credit, addressing imbalances in the property market and strengthening financial supervision," the IIF said.

Fu also called out large-scale eavesdropping carried out by U.S. authorities, drone attacks killing innocent civilians and the conduct of U.S. troops on foreign soil.