Full coverage: 2016 Central Economic Work Conference

Economists and government officials also convened in Beijing on Sunday to discuss China's economic agenda for 2017, which was released last week. The agenda touches upon the development of China's rural areas and other sectors. At the Annual Conference on China's Economy, a top official said 'supply-side structural reform' of agriculture will be underlined next year.

"To carry out the supply-side structural reform in agriculture, we will increase the supply of healthy and quality farm products. We will also reform the pricing mechanism and the procurement and storage systems of grains in a positive but gradual way. Meanwhile, farmers will be given more property rights as we continue to clarify their property ownership," Yang Weimin, vice head of China's Office of Central Economic & Financial Leading Group, said.