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"Chinese shipbuilders have some advantages over the traditional shipbuilding powers including South Korea and Europe. For instance, the country's shipbuilders are good at making 'tailor-made' ships," Hu noted.

"China's economy will face a number of challenges, particularly from external factors, so stability will be the main priority," he said.

"Compared with the policies allowing foreign banks to set up branches in China, in addition to wholly owned subsidiaries and joint-venture banks, or remove caps on foreign ownership in Chinese financial institutions, we pay higher attention to the policies that expand the business scope of foreign banks," he said.

"China's auto production and sales are likely to hit about 25 million units this year, similar to that of the previous year," Meng said at a news conference in Beijing. "And the production and sales of new energy vehicles are expected to exceed that of 2019."

"China will also expand domestic demand to improve the quality of supply side and stimulate consumption potential, and at the same time, accelerate the development of new consumption formats and actively expand effective investment," Xin added.