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He said to understand and study difficulties that people are struggling with, and raise related motions or suggestions to help solve these problems is the obligation of an NPC deputy, as they come from and are elected by the people.

He said the administration will promote business registration through electronic platforms and streamline documents needed for registration.

He said the government needs to adopt systemic approach, which requires regulators to make effective decisions, jointly enhance their capacity to coordinate and improve supervision efficiency.

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He said there are indeed problems in certain Chinese provinces, mainly due to the decline in fiscal revenue at times of economic downturn.

He said the procuratorial organs insist on the principle that no organized crime offender is spared and no innocent person is wrongly detained. All procuratorates at the provincial level have been told to supervise cases involving major gang crimes anywhere in their jurisdiction.

He said the industry helps best utilize and allocate resources and the benefit for people is immediate.

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He said the yuan did not face much depreciation pressure, noting a narrowed decline of the central bank's foreign exchange purchases.

He told reporters that the ministry will also study the possibility of investing urban and rural residents' social endowment insurance funds. Pensions in China are traditionally held by banks or used to purchase treasury bills with 2 to 3 percent annual yields, which were far below the market average and were often depreciated due to inflation. In contrast, the NCSSF earned an annual average return of over 8 percent on its investments over the past decade, by investing in a variety of financial products, including bonds and stocks. China faces the challenge of building a more sustainable pension system as its population ages. The country had 220 million people aged over 60 at the end of 2015, accounting for 16.1 percent of the total population.

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He said what made him decide to suspend his teaching job and focus on the work in the company was an entrepreneur-friendly policy, issued in 2018, which ensures entrepreneurs can go back to their original jobs in case their businesses fail within three years.

He said the Chinese companies' expansion in Southeast Asia will have a huge impact as they will contribute to technology and telecommunications development in the region.