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"It is the US' strategy to use China's over trillion foreign reserves to patch the holes in the U.S. economy, so of course they want to flatter us. But we don't have a clear, long-term forex investment strategy of our own," she noted.

This year is the second year of the government's low-income housing program for the 12th Five Year Plan (2011-2015) and will see the greatest amount of units built, the NDRC said.

Panama-registered cargo ship Xianghuamen with 28 Chinese crew members on board was hijacked Friday morning by Somali pirates in the Sea of Oman near Iran's southern port of Chabahar.

The joint exercise is the seventh between Russian and Chinese armed forces since 2003. Chen Hu said such cooperation is the most effective way to deepen the two militaries' strategic partnership of coordination.

In particular, the basic medical security schemes for rural residents have benefited 97.5 percent of Chinese farmers, or 832 million rural population. The New Rural Cooperative Medical Scheme (NRCMS) has become the medical security scheme with the largest coverage in the world, Chen said.