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LONDON, Feb. 27 (Xinhua) -- Chinese Commerce Minister Gao Hucheng said Friday that China and Britain face a rare opportunity in promoting bilateral economic and trade cooperation, according to a press release by the ministry.

2. We deepened reform and opening up and stimulated market vitality and social creativity. We continued to streamline administration, delegate more powers, improving regulation, and provide better services. Progress was made in reforms in key areas, and the building of new systems for an open economy was accelerated.

The 13th Five-Year Plan for the 2016-2020 period, approved on Wednesday by the National People's Congress (NPC), China's parliament, is a new chance to examine how the world's second largest economy forecasts its future, plans its goals, deal with challenges and transform itself.

Officials should be exemplary role models and champion the correct political stance, be aware of the overall situation, as well as recognize and follow the Party line, Liu said.

"There is fiscal space to stimulate consumption through greater public spending on health and education and tax cuts," David Dollar, a senior fellow with the Brookings Institute, told Xinhua.