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The country also will open industries including financial, services and manufacturing even wider to foreign investors and lower tariffs to increase imports as it helps facilitate the market entry of companies under all types of ownership so they can to compete at the same level, Gao said.

The conurbations of Beijing and Tianjin are among the top sources of second hand stock, and the majority of used cars are moved to the adjacent regions, including Shandong province and Inner Mongolia autonomous region.

The corridor is expected to offer a shorter, quicker and cheaper trade route between western China and Southeast Asia, besides helping the country to expand its economic cooperation with Europe and the rest of the world.

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The conflict threatens to drag in other regional powers as Azerbaijan is supported by Turkey, while Armenia has a defense pact with Russia.

The construction of new infrastructure such as 5G, artificial intelligence,  industrial internet and internet of things saw an increase in online jobs by 35.86 percent year-on-year in the first four months in China, the Time Weekly reported on Tuesday as it quoted the data from a recent report by the big data research institute of Liepin.com, a Chinese online recruitment platform.

The council members will also visit Shenzhen and Guangzhou in the southern Guangdong province - the pioneer cities of opening up and reform, said Ma.

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The core CPI, which excludes food and energy prices, rose 1 percent year-on-year, edging down from 1.5 percent in the previous month.

The country will promote Qingdao's role in the construction of the economic corridor of the New Eurasian Continental Bridge under the Belt and Road Initiative and maritime cooperation, the statement said.

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The country will focus on key areas in the industry to build an innovation network to pave the way for its development, Luo Wen, vice-minister of the Ministry of Industry and Information Technology, said.

The country is expected to continue to advance tax reform next year, including a further reduction of value-added tax and cuts in government administrative fees, with a view to lowering enterprises' operational costs while improving their profits, according to Liu.