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China will also seek closer cooperation with other SCO members to more precisely target transnational drug trafficking routes and underground drug factories, as well as to cut their capital chains, Wei said.

China released a detailed plan last October, allowing banks to exchange bad debt for stocks in companies concerned, which will help free up bank balance sheets.

China will continue further opening-up and welcomes foreign companies to expand their investments to achieve co-development and win-win outcomes, Premier Li Keqiang said on Wednesday in Beijing.

China saw its installed capacity of renewable energy grow 9 percent year-on-year to 794 million kilowatts by the end of last year. Wind and solar farm capacity rose by 14 percent and 17.3 percent year-on-year, respectively, said the National Energy Administration.

China should contain the overall leverage ratio and raise the financial sector’s capability of serving the real economy to prevent and defuse major risks, the meeting urged.