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The CPC Central Committee's organizations intended for discussing and coordinating policymaking should operate as led by the committee's Political Bureau and its Standing Committee, the document said.

The Bond Connect is the fourth key measure the central government has taken in recent years to liberalize the country's capital markets, and is seen as an important first step in promoting internationalization of the yuan. It follows the launches of the Shanghai-Hong Kong Stock Connect in November 2014, the Mainland-Hong Kong Mutual Recognition of Funds Scheme in mid-2015 and the Shenzhen-Hong Kong Stock Connect late last year.

The CPPCC charter has undergone three amendments since its general framework and main content were nailed down in 1982.

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The COVID-19 epidemic hit the country's economy in the first quarter of this year. As the epidemic has been put under effective control, China's economy is already in recovery mode. Yang said he had confidence in China's positive economic fundamentals in long-term trends and the country's prospects for economic development this year.

The CPC Central Committee should coordinate and supervise the holistic implementation of the reform, while local authorities and departments were urged to resolutely implement the reform tasks, said the decision.

The BRI, put forth by President Xi Jinping in 2013, seeks to create a trade and infrastructure network connecting Asian with Europe, Africa and beyond.

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The Belt and Road Initiative is reshaping global trade that enables significant regional economic growth, driving multilateral trade, accelerating infrastructure construction and increasing connectivity.

The Bank of Communications, one of China's largest commercial banks. [Photo/VCG]

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The CBAC's event's host is Great Leap, which has organized successful festivals previously.

The Bank-card Consumer Confidence Index (BCCI), compiled by Xinhua News Agency and China UnionPay, a financial services corporation, dropped 0.58 points from November to 90.29 in December.