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China will strive to make new strides in economic development during the period, according to a communique released after the session.

China's banking and insurance regulator urged relevant financial institutions to take multiple measures to dispose of and mitigate the risk of banks' nonperforming assets, in addition to classifying bank loans strictly according to their inherent risks as "pass, special-mention, substandard, doubtful and loss" to truly reflect their risk level, Xiao Yuanqi, chief risk officer and spokesperson of the China Banking and Insurance Regulatory Commission, said at a news conference on Oct 21.

China's Consumer Confidence Index soared to a historical high of 114 points in the third quarter of this year, up two points on a quarterly basis, buoyed by improved job prospects and surging consumption power, a new study said on Tuesday.

China will roll out new policies to boost entrepreneurship and innovation, with a special focus on employment and business startups by college graduates and other key groups, the State Council's executive meeting chaired by Premier Li Keqiang decided on Wednesday.

China will further open capital accounts, especially for items that are still unavailable for free currency exchanges. Foreign exchange trading will be more convenient for foreign investors, said Pan, who is also the director of the State Administration of Foreign Exchange.