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"Our understanding and practice of the new normal have just begun," said Xi, adding efforts must be spent on solutions to adapt to the "new normal," aimed at safer and higher-quality growth. "There is always a path out, and the path is lying at our feet," said Xi.

Hua turned the first floor of his home into a classroom to save on rent, but even so, he needs another 8,000 yuan (about 1,300 U.S. dollars) every month to keep the school going.

"These measures will be beneficial to startups, as they normally have to grapple with challenges like insufficient capital and weak risk tolerance. And preferential tax policies will create new momentum for entrepreneurship and innovation," said Bai Ming, a senior researcher with a Ministry of Commerce think tank.

China has worked actively to facilitate the peaceful settlement of regional hotspot issues. As an important force for peace and stability on the Korean Peninsula, China has worked tirelessly to create conditions for restarting the Six-Party Talks. China successfully hosted the foreign ministers' meeting of the Istanbul Process on Afghanistan. We support the political, security and economic transitions in Afghanistan and play a mediating role in its domestic peace process in a way that is acceptable to all sides. We are also engaged in facilitating national reconciliation in Myanmar by leveraging our own resources and advantages to promote peace and stability both inside Myanmar and along its borders with China.

"This will be the most challenging BIT negotiation that either country has ever undertaken," U.S. Trade Representative Michael Froman said in April, noting that the U.S. would like to see China keep its negative list short and narrow.