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In the previous two sessions, the forum released an annual report detailing the achievements of enterprises in Guangdong going global.

In the late 1990s, the village finally had power supply, and an iron bridge to connect it to the outside world was built. The village was renamed Kangfu, meaning rehabilitation. In 2008, when most of the patients were cured, the village was renamed Wajiji, which means "under the cliff" in the Yi language.

In the past five years, China has seen 1.28 million km of rural roads built or renovated, with 99.24 percent of townships and 98.34 percent of villages connected by asphalt or cement roads.

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In the latest call for pursuing high-quality development, the Fourth Plenary Session of the 19th Communist Party of China Central Committee, convened Oct 28 to 31, stressed the importance of modernization of industrial chains and applying science and technology to upgrading the country's manufacturing sectors.

In the mean time, global investment in financial technology ventures more than doubled last year to .3 billion, led by a surge in funding in China and strong gains in several other markets as investors placed larger bets in more mature startups, according to Accenture analysis of data from CB Insights, a global venture-finance data and analytics firm.

In the longer term, the reform efforts to create a fairer competition environment for private businesses will motivate their creativity and vitality, therefore elevating economic efficiency, Wu said.

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In the latest move to further open up the economy, the State Council, or China's cabinet, plans to release a national regulation on improving the business environment by offering market entities institutional guarantees when they invest and develop business in China.

In the past two weeks, major Chinese digital education firms including Hujiang Education & Technology (Shanghai) Corp Ltd and Koolearn Technology Holding Ltd, a subsidiary of New York-listed Oriental Education and Technology Group Inc, have flocked to apply for IPOs in Hong Kong.

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In the same year, the price index of China's passenger car market edged up 1.7 percentage points from 2016, but remained 4.3 percentage points lower than the 2015 base level.

In the meantime, foreign direct investment in the Chinese mainland rose 1.3 percent year-on-year to 345.59 billion yuan (.66 billion) in the first five months of this year. The number of new overseas-funded companies set up during the period surged 97.6 percent year-on-year to 24,026.