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China will intensify its support for the private sector, including small and medium-sized enterprises, to boost the vitality of market entities and enhance business confidence, it was decided at an executive meeting of the State Council, China's Cabinet, on Monday.

China will take a series of measures to improve the leading role of demonstration bases for mass entrepreneurship and innovation to further stabilize employment and add impetus to economic growth.

China's National Bureau of Statistics (NBS) made the revision based on the country's GDP accounting system and the results of the fourth national economic census.

China will work to further improve the information transparency and disclosure of listed companies, improve their corporate governance, and strengthen the mechanism of diverse exit options for these companies in a bid to sustain the steady and healthy growth of capital markets and better protect investors.

China will optimize its system of innovation, improve the innovative capability of companies and unleash the potential of science talent, he said, adding that it will remain open and pursue international cooperation, with the aim of becoming a global hub of innovation that allows top talent to succeed.