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"China does not want a trade war with the US," Wang Shouwen, vice-minister of commerce, said at a news conference on Wednesday afternoon. "But China is not afraid of one."

"By creating a new highland of securities industry opening-up, we aim to fully spark the internal development momentum of Beijing's financial industry," Yan said, adding that the plan for Beijing will also contribute to the nation's financial opening-up progress.

"China is in a new era and Chinese people need a higher quality of life, which also requires a higher quality energy system, and that basically means less coal and more natural gas and more renewable (energy) in the mix," he said.

"China has related laws and regulation in terms of the misconducts. But there is still a long way to go before we put them into actions," he said, adding that the ministry will strengthen its supervision over charities to make these organizations better serve the public in the future emergences.

"By establishing such financial services and other facilities in culture, trade and big data, we are aiming to develop the Guangdong-Hong Kong-Macao Greater Bay Area into a world-class bay area and forge a top international city cluster in the Pearl River Delta," said Wen Guohui, mayor of Guangzhou.