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"The stance shows the government is trying to find a subtle balance between stabilizing growth and controlling asset bubbles," noted Hong Hao, chief China strategist at BOCOM International.

The two sides will also lower the entry threshold for investment in the tourism industry, and encourage companies from both countries to expand investment cooperation, the Chinese vice premier said.

The most recent emphasis on reform came three years after the key Third Plenary Session of the 18th CPC Central Committee in 2013, which featured a comprehensive reform package covering 15 areas and 60 tasks.

In January 2015 in Beijing, Xi and Correa decided to establish a strategic partnership between their countries. Since then, bilateral ties have entered a new phase of all-round rapid development.

WUHAN, Nov. 14 (Xinhua) -- Zhang Zhijun, head of the Taiwan Work Office of the Communist Party of China Central Committee, on Monday met with former Kuomintang party chairman Wu Poh-hsiung to discuss cross-Strait relations.