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China's annual fiscal deficit target may be set higher at 2.8 percent of GDP, up from 2.6 percent for 2018, after policymakers called for fiscal policy to be "more proactive", according to China Bond Rating, a State-owned ratings agency.

China's capital intensity ratio was 1 percent in 2001, and as of 2016, it was 18 percent, marking an 18-fold growth. Now, with overcapacity, and excess inventory and capital, China should go global supported by capital accounts, facilitating outflows of the renminbi through overseas investment and export of capital. Meanwhile, China should bring back the renminbi by exporting industrial products. Then, a full circulation cycle of the yuan will be completed.

China will play a key role in supporting global economic recovery this year, economists said, since the country's economic rebound is set to continue, which will help stabilize international supply chains.

China's bottled water conglomerate, Nongfu Spring, is tapping into the skin care market, the Hangzhou-based company announced on Sunday night.

China will further integrate itself with the development of the world and contribute more to economic globalization through Hainan. The free port could form greater synergy with the Guangdong-Hong Kong-Macao Greater Bay Area and boost economic and trade relations with Southeast Asian countries.