The yuan's exchange rate formation mechanism should be improved, and the currency's value should be kept basically stable at a reasonable and balanced level, Xi said.

To keep up with the pace of financial opening up, China must have a strong regulatory capability, the president noted.

He urged financial regulators to learn from international experience, address weak links and improve the way of regulation.

On foreign trade, Xi stressed expanding imports while stabilizing exports to promote balance of payment under the current account.

He demanded measures to make foreign trade more liberalized and convenient, saying institutional costs of import should be lowered, quarantine and custom clearance be streamlined, and that companies' complaints be better addressed.

Authorities must study reducing tariffs on certain consumer goods and encourage the import of specialty products, Xi said.

A market environment featuring fair play should be created in the country, giving businesses equal treatment in tariff collection, import quarantine and marketing to let consumers and the market have the say, according to the president, who is also head of the leading group.

The meeting was also attended by Premier Li Keqiang, who is deputy head of the group, and Vice Premier Zhang Gaoli, a member of the group.

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