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China should integrate its financial regulators responsible for banking, securities, insurance and trust together to form a unified supervising body at a proper time so as to ward off systemic risks, Li said.

"We are here to celebrate the Chinese lunar year, the Year of the Monkey. As the ninth of the 12 animals in the Chinese zodiac, the monkey represents curiosity, intelligence, diligence, bonding and optimism. These traits are quite fitting for this coming year," Yang said in the Saturday speech.

Another key section in judicial reform, the Supreme People's Procuratorate (SPP) issued 23 reform documents, co-issued eight with central government departments, and initiated 12 pilot reforms, according to the SPP work report delivered by Procurator-General Cao Jianming to the NPC.

He said The AP recognizes the needs for innovation, and is looking forward to deepening its partnership with Xinhua.

The country's urban job creation target remains at least 10 million. Last year's 6.9-percent growth added 13.12 million new urban jobs.