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While Tan said China should buy more oil and gold, Wang Jianmao, an economics professor at China Europe International Business School, said the government should allow Chinese people to buy foreign companies' stocks.

Work should also be undertaken to push forward innovation and implement strategies that seek to revitalize the country through science and education, he urged.

BEIJING, May 9 (Xinhua) -- Most Chinese travel agencies have suspended travel to the Philippines following the escalation of the Huangyan Island situation.

The Chinese government has long been committed to promoting economic and social development in Tibet, and has constantly increased support for development in that region, he said, adding the government has made a new plan to support development in Tibet, which is particularly aimed at improving the livelihood of local farmers and herdsmen.

China's grain output rose 4.5 percent year-on-year to a record high of 571.21 million tonnes in 2011, marking eight consecutive years of growth.