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And it revealed the essential truth that the CPC remains focused on development. From the judgments made and policy initiatives proposed, the report bears testament to the Party's longstanding conviction that development is the key to all the problems the country faces.

Analysts said liquidity conditions will likely remain tight in China as the authorities will continue with a prudent monetary policy to curb financial risks and asset bubbles, which means the fundraising cost for domestic companies will stay at a relatively high level. They added that the expectation of a stronger yuan will also encourage more companies to raise dollar-denominated bonds in overseas markets.

An oil pumpjack and a tank with the corporate logo of state oil company PDVSA are seen in an oil facility in Lagunillas, Venezuela Jan 29, 2019. [Photo/Agencies]

And silk continues to dominate the local economy.

An online store owner applies for a loan through a MYBank mobile phone app in Jingdezhen, Jiangxi province. [Photo provided to China Daily]