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China needs to lower its annual economic growth target in next year, financial news outlet Yicai reported Monday, citing experts.

China reiterated its resolve to delay people's retirements in a recent landmark document, raising hopes of a legislative breakthrough in extending careers in a rapidly aging nation with young retirees.

China set its monetary policy as prudent and neutral for 2017 as authorities try to balance financial deleveraging and support economic growth.

China stands ready to strengthen professional communication with Italy and cooperate with it in the fields such as remote medical care and the development of medicines and vaccines, State Councilor and Foreign Minister Wang Yi said.

China removed import tariffs on anti-cancer drugs starting in May and lowered value-added tax on the production and import of the drugs.