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As the Chinese currency is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by China's trade surplus and foreign investment in the country, adding funds to the money market.

As the world's largest energy investor, China saw a 25 percent decline in coal-fired power investment last year and is increasingly driven by clean electricity generation and networks, as well as energy efficiency investment, said the report.

As the year 2020 is crucial in building a moderately prosperous society in all respects and winning the anti-poverty battle, Xi required the political and legal systems to put safeguarding national political security first in their work, continue to combat organized or gang-related crimes, advance pilot programs to modernize social governance in cities, and strive to build China into a country with greater peace and better rule of law.

As the growth outlook became gloomier, emerging and developing economies are less well-positioned today to withstand a deeper global downturn, should it occur, than they were before the 2009 global recession, according to a new World Bank Group study.

As structural deleveraging is mainly directed against the current imbalance in China's economic development, Kang said leverage should be moderately increased in infrastructure investments on areas such as roads, railways and sewer systems and further reduced in industries of overcapacity and low efficiency.