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China's cultural industry has seen robust growth in recent years. Last year, total revenue in the culture sector and related businesses hit 8.93 trillion yuan (.31 trillion), increasing 8.2 percent year-on-year, according to a survey by the National Bureau of Statistics of more than 60,000 enterprises across the country.

China's five-year treasury bond futures closed higher on Friday. [Photo/Sipa]

China's finance ministry will coordinate with other government departments to introduce a policy regime which supervises and evaluates the pilot program that will transfer shares of State-owned enterprises and financial institutions to the country's social security fund.

China's imports of goods grew 11.5 percent in the January-June period, compared with 4.6 percent growth for exports, according to the General Administration of Customs.

China's employment situation was generally stable in the first quarter this year, with the unemployment rate in 31 major Chinese cities stable at around 5 percent in January and February, according to Zhang.