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China has been making a series of moves in opening up the bank card clearing market to international companies, including Visa, Mastercard, American Express and JCB, meaning that China's payment market will see increasing competition in the near future.

China has established a unique organ donation system that has been hailed as a model by many international experts, Huang said.

China gives high priority to employment. We have worked to ensure that economic development is pursued in a way that supports job creation, encouraged business start-ups as a means to create more jobs, and paid particular attention to the employment of college graduates and other key groups. We have also provided the labor force with better education and training to tackle structural unemployment. In each of the past few years, we have created over 13 million new jobs in cities and towns. An important thing we have learnt from all this is that with better coordination and the right measures, economic restructuring does not have to come at the expense of employment. On the contrary, stable employment would allow greater leeway for reform and development.

China has finalized rules including punishments for illegal activities, and the definition of sensitive countries and sectors on outbound direct investment, the country's top economic regulator announced on Tuesday.

China has already started losing low-paying manufacturing jobs to other developing countries like Vietnam, Indonesia and Sri Lanka.