The meeting urged accelerated efforts to open up the insurance market and foster a level-playing field to promote the upgrading of insurance services.
The meeting highlighted the importance of boosting market confidence, supporting the sustainable and healthy development of the economy and maintaining social stability this year, which is the 70th anniversary of the founding of the People's Republic of China.
The meeting was presided over by Miao Hua, a member of the Central Military Commission (CMC) and director of the Political Work Department of the CMC.
The ministry said China is on the fast track in terms of smart and connected vehicles, with an expanding scale and increasing innovations, but it admitted that core technological breakthroughs are yet to be achieved and more legislation needs to be put in place.
The mechanism, which covers cooperation in such fields as education, culture, science and technology, healthcare, youth, women, media, think tanks, tourism, sports and people-to-people exchanges, will play a significant role in deepening the comprehensive strategic partnership between the two countries.
The meeting also called on the northeastern region, China's old industrial base, to actively adjust its economic structure, push diversified industrial development, accelerate the reform of State-owned enterprises and create new frontiers for further opening-up.
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The market responded instantly. Tencent's share price dropped 4.13 percent on Tuesday on the Hang Seng Index in Hong Kong.
The materials were organized by the ministry in collaboration with the National Food and Strategic Reserves Administration.
The measures seek to "tax income that is very high relative to the amount of foreign subsidiary assets generating the income", Hufbauer said.
The meeting took place at a time when Myanmar is experiencing an economic reform and ICBC would like to discuss and exchange the experiences with its Myanmar counterparts, he added.