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"The impact of financial cycles on the macro-economy is not short-term fluctuations, but rather mid-term ones," said Peng Wensheng, global chief economist with Everbright Securities, stressing the "pro-cyclicality," or self-reinforcing nature of both bank credit and property prices.

"They are full of vigor and vitality and inject 'new blood' into the legislature," said Yang.

The Constitution has established a series of fundamental systems, principles and rules for China and introduced a number of basic policies, including the CPC's leadership, the state system as a socialist state under the people's democratic dictatorship led by the working class and based on the alliance of workers and peasants, as well as the system of people's congresses.

The commission also demanded close monitoring of the mutation of flu virus strains, and suggested schools have daily check-ups for students.

With an open vision and broad mind, the CPC is willing to carry out dialogues, exchanges and cooperation with peoples and political parties of other countries, he noted.