China should clarify the specifications of local government debt and release the information on the total amount and structure of the debt to the public.
Commercial banks must overhaul their profit models from traditional ones to address the narrowing interest margin, urged Shang Fulin, Chairman of China Banking Regulatory Commission.
Chinese banks "must accelerate their transformation and upgrading by restructuring their asset and profit structure and regional layout of branches," said Yang Kaisheng.
Under the "new normal", China has both the conditions and the ability to grow its economy to a medium-to-high level while maintaining a medium-to-high growth rate in the long term.
The Silk Road Economic Belt and 21st Century Maritime Silk Road initiatives are expected to further stimulate business this year between China and trading partners along the routes through diversified trade activities, investment and currency exchanges.
The much-anticipated annual parliamentary sessions of China, dubbed as "two sessions", is expected to lay a foundation for further reforms as the world's second-largest economy actively adapts to the "new normal" of slower growth but higher quality economy, experts say.
State Information Center expects the country's economy growth to slow to 7% in the first quarter, a sign policymakers will have to roll out more stimulus.
The Chinese business press likes to talk about the economy's "new normal", while the true picture of the economy is not normal at all, according to economic experts.
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