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China's demand for talents in technology, digital and financial services sector will continue to grow, while the education sector may see a tight talent crunch as demand still outweighs supply, a new report said.

China's economic and financial risks are on the whole manageable, Li said. "What China needs to do is to tackle both the symptoms and root causes and take effective measures to defuse potential risks."

China's major stock indices closed lower Monday, with the benchmark Shanghai Composite Index down 2.58 percent at 2,933.36 points.

China's government has taken great steps to open up China's financial markets to foreign investors and foreign competition in the last two years. In the long run, this will improve the economy's efficiency by introducing more competitiveness and innovation into the domestic financial system.

China's consumer inflation, measured by consumer price index, edged up in September, according to the National Bureau of Statistics on Tuesday.