(Yicai) March 12 -- The heads of China's financial regulator, customs authority, and intellectual property regulator along with its culture and tourism minister have elaborated on crucial topics at the country's two key annual policy-setting meetings.

How finance will serve the real economy, foreign trade, recovery in culture and tourism, and intellectual property protection were all discussed by the heads of ministries and administrations during a press conference yesterday.

China has solid foundations to withstand financial risk, noted Li Yunze, head of the National Administration of Financial Regulation. 

The country is reviewing cutting the percentage of downpayment for passenger car loans, improving the pricing mechanism for new energy vehicle insurances, having more equity investment pilots by using financial asset investment firms as a platform to hike support for high-tech companies, raising investment in major national projects and facilities, promoting the implementation of the urban real estate financing coordination mechanism, and supporting the construction of government-subsidized houses, Li added.

China's imports and exports had a good start and reached CNY6.6 trillion (USD930.6 billion) in the first two months of the year, up 8.7 percent from a year earlier, said Yu Jianhua, head of the General Administration of Customs of China. The growth will likely continue in the first half of the year, he added, noting the customs gets over 7 billion cross-border parcels and mails a year, so it is urgent to build smart customs.

Some 470 million travelers spent nearly CNY5 trillion last year in China, and around 440,000 artistic performances made more than CNY50 billion (USD7 billion), a strong recovery and booming development in the country's culture and tourism, noted Culture and Tourism Minister Sun Yeli.

China will make greater efforts to protect IP, form a regular regime for communications with private and foreign companies to listen to their suggestions and demands, and help them solve problems, according to Shen Changyu, commissioner of the National Intellectual Property Administration. The country will treat state-owned, private, and foreign firms equally in IP protection, Shen noted.

Editor: Martin Kadiev