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Analysts say the interest rate reform will lower financing costs for small and private companies and encourage investment in the manufacturing sector.

Analyst said if these targets were met, China would be able to achieve a 16 percent storage level, which is similar to other large gas markets.

Analysts say current headwinds only highlight the necessity of using reforms to shatter institutional shackles and unleash vitality for sustained growth.

An overseas training program for Chinese teachers in Belgium was launched in Brussels on Wednesday, with staff from 8 schools in attending the lectures.

Angel Gurria, secretary-general of the Paris-based Organization for Economic Cooper?ation and Development, said he has pinned high hopes on China’s reform agenda, which is people-oriented to deliver a better life for millions. “Every year I have traveled to China two or three times, and I can tangibly feel the impacts of China’s reform agenda,” Gurria said. “I particularly feel impressed by China’s poverty-reduction efforts, which have year-by-year targets.”