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China will have more power to fight corruption and conduct international cooperation on criminal cases after two related laws were adopted by the country's top legislature on Friday.

China will take an active part in the reform of the global governance system with a commitment to equity and justice. A Chinese adage has it that "a just world should be pursued for the common good". China maintains that global affairs should be run together by countries in the world, and that all people, irrespective of their nationality, social stratum, and walk of life, should be able to benefit from global governance. The global governance reform that China takes part in is not about overturning the current system and starting all over again. Instead, it is about improving the system so that it can better reflect the changing realities, increase the representation and say of developing countries, and bring greater democracy in international relations.

China's CATL will invest 19.07 billion yuan (.75 billion) in businesses in the upstream and downstream sectors to recover its competitive edge, the company said last week. The announcement comes two months after it lost the crown of the world's largest power battery maker to LG Chem.

China will never seek hegemony in the international community and it will always stand by the common interests of all countries, he said, adding that "those who always try to label China 'hegemonic' are the ones who are hanging on to hegemony".

China's banking and insurance sectors will forgo part of their profits this year to stabilize the real economy and they will offer some free consulting services to small businesses, said Xiao Yuanqi, chief risk officer of China's top banking and insurance regulator.