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China's auto sales and output both surpassed 2.2 million vehicles last month. However, unfavorable factors have still dimmed the outlook for market demand, industry data showed.

China will increasingly rely on longer-term and special-purpose government bonds to finance construction and stabilize the economy, preventing the GDP growth rate slowing to a multi-decade low in the second half of this year, said economists.

China will significantly ease market access, and hopes that the EU will keep its investment market open and provide Chinese companies investing in Europe a fair, transparent and predictable policy environment.

China's challenge is to increase investment in digitalizing and labeling data, while ensuring all information stored is relevant, according to Zhang.

China will cut VAT rates as part of a tax reduction package amounting to 400 billion yuan (.6 billion) this year, according to a decision made at a State Council executive meeting Wednesday.