The four days of closed-door meetings began on Monday and involved high-ranking officials discussing long-term strategies for the 15th Five-Year Plan, which starts next year.

It is an uncertain time for the world’s second-largest economy, beset by sluggish domestic spending, a protracted property sector crisis and a turbulent trade war with the US.

China’s large trade surpluses with the US and the EU have drawn sharp criticism from their leaders who say Beijing is flooding markets with cheap goods, hurting local firms.

Beijing said today that China has to balance the development of its imports and exports.

“Efforts must be made to expand imports… to meet the needs of industrial transformation and upgrading as well as the needs of people’s better lives,” commerce minister Wang Wentao told reporters at a press conference.

Wang also vowed that China will create a more favourable environment to attract foreign investment in the next five years.

“We must polish the brand of investing in China, create new advantages in attracting foreign investment…create a transparent, stable and predictable business environment,” he added.