The country also phased out the production of 140 million tons of low-quality steel made from scrap metal last year.
The conference stressed that serving the real economy is the duty and purpose of the financial sectors and the fundamental way to guard against financial risks.
The consul general urged all Chinese citizens to avoid returning through the Suifenhe port.
The conference's core program InnoSTARS Competition has been going on year round. It screens innovations and takes the winners on road trips in China to directly pitch their ideas to potential Chinese investors.
The council, which is better known as the IBLAC, held its 32nd consecutive annual meeting for the Mayor of Shanghai on Sunday. Initiated in 1989, the council has grown into an international think tank for Shanghai where multinational companies' top executives gather annually to share their knowledge and experience, which will not only help facilitate Shanghai's development but also that of China in general.
The country will stick with prudent monetary policies and will refrain from resorting to a deluge of strong stimulus policies, it was stressed at the meeting.
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The country will also resolutely deepen financial reforms including improving financial regulation coordination and shoring up weak links in supervision.
The count indicates PTI would not achieve the 137 seats needed in the National Assembly to form a majority government in its own right.
The countries exchanged the lists of its respective five-member delegation over the weekend for the talks, which would mark the first such dialogue in about two years. The last was held in December 2015.
The country's annual GDP growth rate is projected by the IMF to be 6.6 percent for the year, which remains unchanged from its May projection.