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"China sees improving people's livelihoods as key to improving their human rights. It has also been attaching great importance to promoting equality," said Qiangba Puncog, head of the society and former vice-chairman of the NPC Standing Committee.

"China's cooperation with the five countries is not aimed to subvert their cooperation with other nations such as the United States and Japan,"Feng said, adding that different countries' cooperation with the area has different priorities.

"Currently, there are still some financial institutions from Asia, Europe and the Americas doing market research in China. Some have made clear their business expansion plans in the country, and some have submitted their initial applications for the establishment of financial institutions in China. We estimate that a growing number of foreign institutions will take part in Chinese financial markets over a period of time in the future, and they will become an effective strength for high-quality development of the domestic financial sector," the spokesman said.

"Consumers could not only buy fresh food from us, but also adult products, maternal, baby and female necessities, and other daily household products," said Hou Yi, CEO of Hema, at the second new retail summit in Shanghai held Jan 10-11.

"Currently, private businesses create 80 percent of China's jobs, but only share 20 percent of the social resources. The president's speech shows that the private sector is an important part of China's economy and the country will continue to support the development of companies in the private sector," Dai said.