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"We have to make a proper judgment as early as possible when things happen and take quick action," Wen said, adding that fine-tuning of macro policies should begin in the first quarter. China's inflation rate rebounded to a higher-than-expected 4.5 percent in January, fueling speculation that policymakers may be showing more caution when considering further easing measures, according to figures compiled by Wang Tao, chief China economist with UBS AG.

The meeting resulted in the creation of plans to launch 20 major projects related to the seven strategic emerging industries.

"Music writers' creations are put at the mercy of others and they don't even have the right to price their works. If the provisions were passed, that would undermine the music writers' enthusiasm and even China's music industry," Song Ke, chief executive officer of Taihe Rye, a renowned record company based in Beijing, was quoted as saying in Tuesday's China Youth Daily.

"In the past, China has shown, in a concrete way, its interest in the eurozone by investing in sovereign bonds of individual countries and by investing in European stability instruments," Van Rompuy said.

Wen called for fully exerting the fundamental role of the market in allocating resources, saying that at the same time the hand of government is indispensable, as it can promote stability and social equality.