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China has slashed the number of people living in poverty by more than 700 million since 1978. Women accounted for about half of those brought out of poverty.

China is the company's fastest-growing market outside of the United States in terms of store count.

China has purchased a large number of airplanes from overseas and has many Airbus planes in operation across the country, Li said when meeting with the press with Philippe.

China has stepped up efforts in recent years to regulate the shadow banking sector, often referring to activities performed by financial firms outside the formal banking sector, and therefore subject to lower levels of regulatory oversight and higher risks.

China is expected to convene the tone-setting economic conference soon — reportedly next week. Economists at home and abroad said it may reaffirm the decisions made at the Political Bureau of the Communist Party of China Central Committee meeting on Dec 8, such as pushing the three major tasks of preventing major risks, reducing poverty in a targeted manner and controlling pollution.