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China's 2 trillion yuan (1 billion) tax and fee cut plan continued to pull down government income in October, pushing officials to expand non-tax revenue and maintain stable fiscal spending to support economic growth, according to the Ministry of Finance.

China will expand universal telecom service support and improve school network access in rural and remote areas, said Wen.

China's central bank drained 70 billion yuan ( billion) from the financial system through open market operations Thursday, with the volume of maturing securities exceeding new injections.[Photo/VCG]

China's average contribution to world growth in 2013-2016 was about 30 percent, the largest among all countries and higher than the total contribution from the United States, the eurozone and Japan.

China's central bank announced on Friday to cut the reserve requirement ratio of banks (ratio money lenders are required to keep aside as reserves) by 1 percentage point to inject cash into the economy to bolster growth.