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The State Council came up with an action plan on railway financing in April, deciding to set up a fund open to private investment. The fund value is expected to reach 300 billion yuan (48.6 billion U.S. dollars). In addition, 150 billion yuan of railway bonds will be issued this year, with overtures being made to banks to encourage them to fund railway projects. Central and western regions will be the top priority.

Besides, China also provided assistance to regional organizations such as the African Union, according to the white paper.

The government must strive to make the pilot program easy to implement, decide the subsidy amounts in a scientific way and optimize the procedure for handing out the subsidies, Wang said.

The government should also pay more attention to fiscal support and financial services to newly registered small firms, he added.

They also urged the government to tighten regulations and adopt stricter environmental, quality and safety control standards in a bid to squeeze out industrial programs with high pollution and low efficiency.