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China will continue to ease foreign ownership restrictions in fields like finance, healthcare and elderly care, he said.

China is working to ensure the safety of lives and property of people living along the country's border with Myanmar after fighting broke out between the armed forces and militia in northern Myanmar on Saturday.

China will also speed up development of world-class technological innovation centers to foster new growth drivers, and expand investment in infrastructure related to key areas such as poverty relief, agriculture and energy to stimulate demand, he said.

China said on Wednesday it will impose sanctions on relevant United States personnel and entities after US President Donald Trump signed into law the so-called "Hong Kong Autonomy Act".

China urges the US to correct its mistakes, refrain from implementing the so-called act and stop any interference in Hong Kong affairs and other domestic affairs of China, it said, adding if the US is bent on going down the wrong path, China will firmly respond.