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China will continue to open its financial sector, improve financial governance and make the sector more compatible with the economic development, it was decided.

China opposes unilateral sanctions to Venezuela, Foreign Ministry spokesman Geng Shuang said on Tuesday, adding that relevant countries imposing sanctions to Venezuela will deteriorate people's livelihood in Venezuela, and they should be responsible for the serious consequence.

China played a significant role in global wage growth from 2008 to 2017, helping the average wage increase by 22 percent in that period, compared with only 13 percent if the country was excluded, according to a report by the International Labour Organization.

China was ready to work with ASEAN countries to implement the Declaration on the Conduct of Parties in the South China Sea (DOC), deepen maritime cooperation, agree on a timely negotiation-based COC, and jointly maintain peace and stability in the South China Sea, Geng said.

China will build an all-directional and multi-tiered ecological environment in innovation by promoting institutional innovation, technological innovation, management innovation and mode innovation, as well as strengthening protection of intellectual property rights and stimulating entrepreneurship, which places innovation in a key role for high-quality development, said Zhao Zeliang, vice-minister of the Cyberspace Administration of China.