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"China will resolutely say no to US hegemony and will resolutely take measures to protect the country's sovereignty, security and development interests," Zhang said.

"China's financial sector will be much more competitive, our capital markets will continue to enjoy healthy development, the building of a system of modern industries will be accelerated, our market environment will be greatly improved, and intellectual property rights will be effectively protected. In short, China will enter a new phase of opening-up," she added.

"China will continue to step up efforts in quality supervision and law enforcement to protect consumer rights this year," said Zhang Mao, head of the SAIC. "The complaints channels for consumers will be improved, and the supervision of market players will be tightened."

"China's fast-growing digital economy has sharpened the country's competitive edge in industry and created favorable conditions for foreign businesses to invest in more areas," he said, adding that 4G-and 5G-based digital infrastructure is a solid foundation that facilitates rapid growth of artificial intelligence, big data and diversified online services.

"Climate change impacts like droughts, and floods are becoming more frequent and intense, leading to unsustainability of agriculture," Srinivasan Ancha, the Asian Development Bank's principal climate change specialist for Southeast Asia, said.