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Another key topic is whether the government will raise the budget deficit rate. A broad consensus has been achieved among officials and scholars before the high-level economic meeting that the government deficit-to-GDP ratio could be lifted to 3 percent, up from 2.8 percent in 2019, allowing the government to spend more on infrastructure construction projects.

Apart from revitalizing time-honored brands, there are also plans to build two world-class streets for shopping as well as create another 50 new local brands with strong Shanghai features.

Another logistics facility is the Chongqing Lianglu-Cuntan Free Trade Port Area, which is the only bonded port area in western China. It has been in operation since 2008 and is one of only 14 such areas in the country.

Apart from measures to boost awareness of garbage classification, the draft also includes plans to strengthen supervision regarding this matter.

Anthony J. Leggett, a Nobel Prize winner in physics from Great Britain and now a professor at Shanghai Jiao Tong University, said he was greatly impressed by the earnestness Xi showed at the meeting. He said he was especially impressed to see the president taking notes. "President Xi knows the necessity of bringing in and fully using foreign expertise," Leggett said.