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In his speech at the WEF, Liu stressed the necessity to transit the Chinese economy from a phase of rapid growth to one of high-quality development.

"More will be done to curb formalities for formalities' sake and bureaucracy," the communique said. "Those who are active only in words rather than deeds will be held accountable."

Speaking of the trade imbalance, the former trade minister, a strong supporter of and contributor to ChAFTA, said, "They will all balance up in the end if you look at a larger picture."

Priority should be given to stabilizing the real estate sector and dissolving the risk of a bubble. Funds should be prevented from flowing into the property sector illegally and the land supply should be increased.

Chinese Captain Ran Mujiang sails his boat between Guanlei Port in Yunnan Province and Chiang Saen Port in Thailand. A single trip takes him nine hours.