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China's ratio of R&D expenditures to business revenues was 2.27 percent during that period, which is quite high but still lower than many other major economies, he said in an interview. "It means there's still much room for China to further increase its R&D expenditures."

China's top legislature has called on governments to offer more aid to laborers from regions hit hard by the novel coronavirus pneumonia outbreak when they return to work to help them overcome difficulties such as discrimination and ensure fair employment and the orderly resumption of production.

China's year-on-year GDP growth reached 6.9 percent last year, which beat general market expectations, according to data released by the National Bureau of Statistics on Thursday.

China, meanwhile, aims to increase its installed geothermal energy capacity by 500 gigawatts from 2016 to 2020, according to the 13th Five-Year Plan for geothermal energy released in 2016, the first such plan in this field.

China's top legislature adopted an amendment to the Individual Income Tax Law on Friday, raising the minimum threshold for paying personal income tax from 3,500 yuan (0) to 5,000 yuan per month, or 60,000 yuan per year.