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"Employment creation is the primary mission of economic development and a fundamental livelihood issue for the people," Li said. "As we are still expected to face considerable employment pressure in the coming year, we must prepare well and take precautionary measures as much as possible, which may include giving local governments and businesses more flexibility in employment policies."

"Domestic market entities need to be further vitalized by deepening reforms," Tang said, adding that tax cuts and accelerated infrastructure investment are expected to stabilize the economy this year.

"Despite an 8 percent decline in export of all Chinese automakers, SAIC Motor registered overseas sales of 240,000 units in the first three quarters of this year, a year-on-year growth of 15.5 percent," said Yu De, managing director of SAIC Motor international business department.

"Few will deny that Chinese currency is set to become a more important player on the world stage, particularly through the lens of China's Belt and Road Initiative," she continued.

"Employment creation is the primary mission of economic development and a fundamental livelihood issue for the people," Li said. "As we are still expected to face considerable employment pressure in the coming year, we must prepare well and take precautionary measures as much as possible, which may include giving local governments and businesses more flexibility in employment policies."