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"China is taking the initiative to reduce production capacity based on its own national conditions. The efforts are to make the growth model and economic structure move to new economic drivers," he added.

"Charity organizations enjoy favorable tax policies because they are established for a public purpose. Therefore, they have a duty to disclose their information to the public in a timely manner," he said.

"Central SOEs must improve the political, financial and social treatment of skilled workers, especially highly skilled talent, from an overall strategic perspective," Xu Fushun, deputy director of the State-Owned Assets Supervision and Administration Commission, said on Thursday.

"China has always believed in and been committed to promoting pragmatic maritime cooperation among countries bordering on the South China Sea and fulfilling duties to cooperate, stipulated in the UN Convention on the Law of the Sea," Geng said, adding that China hopes to strengthen such cooperation.

"China is now the world's second-largest economy. China has lifted more than 700 million people out of poverty and it has built the world's largest network of basic pension insurance system, which has covered more than 900 million people, and a basic health insurance system covering 1.3 billion people."