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China will carry out a new type of people-centered urbanization that will grant rural people who live in cities more social welfare currently enjoyed by the city dwellers, according to a government work report delivered by Premier Li Keqiang on Wednesday.

China will promote the healthy development of its burgeoning Internet finance.

Premier Li Keqiang has pledged that China will resolutely uphold its marine rights and interests, and build China into a maritime power.

China will speed up the development of mixed-ownership economy by letting non-state capital into more state projects, including those in oil, railways and telecoms, according to a government work report delivered by Premier Li Keqiang on Wednesday.

China will continue to implement a proactive fiscal policy and a prudent monetary policy, Premier Li Keqiang said Wednesday at the opening of the annual session of the National People's Congress (NPC), Chian's top legislature.

Chinese Premier Li Keqiang, in his first government work report, pledged Wednesday to make breakthroughs in reform as the country seeks growth impetus in face of downward pressure on its economy.

China will build a standard financing mechanism for local governments to issue bonds, its latest step to address local government debt problems

China targets economic growth of around 7.5% in 2014, and will "declare war" on pollution, go after corruption "without mercy" and crack down on terrorism.

China keeps its economic growth target unchanged at around 7.5 percent this year as the government looks to achieve stable growth while driving through reforms for the long term good.

China will further its efforts in building a streamlined government administration by exempting more items from central government approval.

China faces great challenges and complex problems in pushing forward economic and social development.

China pledged to hold high the banner of peace but also vowed to resolutely safeguard its sovereignty and the postwar international order.

China plans to raise its defense budget by 12.2 percent to $132 billion in 2014, according to a budget report to be reviewed by the national legislature on Wednesday.

The Chinese government will build a system for combating corruption and penalize crooked officials without mercy in accordance with law, a government report to be delivered by Chinese Premier Li Keqiang said.

The 12th National People's Congress, China's parliamentary body, opens its 2nd annual session at the Great Hall of the People in Beijing.