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Miao's remarks came after the annual Central Economic Work Conference in December emphasized the unwavering efforts to build the country into a manufacturer of quality. It put high-quality manufacturing development high on the work agenda.

Mexico's President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City, Mexico, July 22, 2019. [Photo/Agencies]

Meanwhile, employers who terminate contracts on the grounds of where employees come from are also identified as disobeying the Chinese Labor Contract Law and should be bear legal liability, he added.

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Meanwhile, with big gaps expected to remain between domestic supply and demand, changing unhealthy eating habits that rely on too much oil and animal protein can also reduce demand for soybeans, he said. Thus, domestic supply could meet demand and China would rely less on imports.

Meanwhile, the restrictions will further expedite Chinese high-tech companies' push to strengthen their own technological innovation and R&D capacities, Xiang said, adding that Chinese enterprises should gear up to master core technologies.

Members of the post-95 generation are increasingly interested in working in tier-two or tier-three cities and they are more willing to work out of interests and hobbies, according to a report released by Tencent and 58 Group, Beijing Morning Post reported Wednesday.

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Meanwhile, the federation predicted a moderate export growth in 2019.

Measures to raise stable, low-cost equity investment funds for the medium and long run will be brought forward, as well as those to set up private equity funds targeting debt-to-equity swaps. The capital market will be given a greater role in the merging, restructuring and optimizing of capital stock. A plan to conduct equity-swap transactions through the multilevel capital market will also be worked out.

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Meng Wei, spokeswoman of the National Development and Reform Commission, told a news conference that the country will further streamline the procedures for corporate bond issuance and help firms reduce financing costs.

Mei warned about the risk associated with further renminbi internationalization, given the potential pressure on the safety of cross-border capital flows.