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China's National People's Congress (NPC), the national legislature, adopted the constitutional amendment on March 11.

China's burgeoning entertainment market has attracted more foreign players seeking partnerships with Chinese companies, according to some industry insiders at a summit in Hangzhou, Zhejiang province, on Tuesday.

China will stick to its path of innovation with Chinese characteristics and implement an innovation-driven strategy for development to fulfill the "Two Centenary Goals", Xi said. The goals are to finish building a moderately prosperous society in all respects by 2020 and to turn China into a great modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious and beautiful by the middle of the 21st century.

China would put another million barrels a day or more on the table in the next few years, said the Bloomberg report, citing Steve Sawyer, director of refining at industry consultant Facts Global Energy.

China will defer income tax payments for small companies with thin profit margins, as well as individually-owned businesses, to help them resume business and production, said the State Taxation Administration.