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China's monetary policy in 2017 is set to be "prudent and neutral," targeting M2 money supply to grow by around 12 percent, one percentage point lower than the 2016 target, to keep liquidity at appropriate levels.

China's first domestically designed aircraft carrier returns to Dalian, Liaoning province, on Friday. YANG YI / CHINA NEWS SERVICE

China's leadership has announced a series of measures to expand opening-up and has moved ahead to lower the import tariffs on vehicles and auto parts, anti-cancer drugs, and daily consumption goods, and to eliminate specific measures such as restrictions on the proportion of foreign ownership of banks and financial asset management companies. The country's initiatives in opening up the market have greatly reduced or even eliminated the doubts of the international community regarding the prospects of economic globalization, and have also injected new dynamism into the recovery of the world economy.

China's household income and saving rates rose this year as a faster recovery in manufacturing and construction partly offset the job market pressure in contact-based service sectors, according to the report.

China's online sales volume of tangible goods surged 25 percent year-on-year to reach 7 trillion yuan (,041 billion) last year.