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China's disaster relief authorities have launched a level IV emergency response plan to help flood victims in Anhui Province, the Ministry of Emergency Management said Wednesday.

China's data volume is projected to expand at an annualized rate of over 50 percent and account for 21 percent of worldwide data by 2020.

China's financial regulatory body is planning to require "too big to fail" conglomerates to replenish capital and meet new regulatory requirements, a measure to prevent cross-market risk contagion and continually reduce the corporate debt level.

China's opening-up has not only benefited its own people, but also brought about massive opportunities for global growth, he added.

China's industrial output contracted by 13.5 percent year-on-year in the January-February period. Retail sales dropped by 20.5 percent, while fixed-asset investment declined by 24.5 percent.