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China has been in a critical stage for flood control this year with strong rainfall both in southern and northern parts of the country, said E Jingping, deputy head of the headquarters and minister of water resources, on Sunday in a conference on flood control.

China champions the development of a community with a shared future for humanity, and has encouraged the evolution of the global governance system. The Belt and Road Initiative, part of China's efforts to boost the development of such a community, may continue to be a hot topic at the annual sessions and new measures may be formed.

China has decided to cut tariffs on a range of imported raw materials used in medicines, which industry analysts said signaled the government's heightened efforts to reduce high drug prices and improve people's healthcare, in addition to further opening up the economy.

China has maintained a firm stance against most cryptocurrency activities. In 2017, authorities issued a ban on initial coin offerings and existing cryptocurrency exchanges, which has remained in place ever since.

China has paid attention to the concerns of South Asian countries over trade balance, and it would like to inject impetus into trade with South Asia, Hu said in his keynote speech at the opening ceremony of the 5th China-South Asia Expo in Kunming, capital of Yunnan province.