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Washington never loosens its pressure on Pyongyang, but "maximum pressure" is not a good practice because it goes against with the improvement of inter-Korean relations due to the Winter Olympics, he said.

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the CPPCC National Committee, made the remarks at a theory seminar commemorating the 70th founding anniversary of the CPPCC.

We have given priority to employment in pursuing development. Employment is the foundation for achieving inclusive growth. Without relatively full employment, inclusive growth would not be possible, and there would be no solid foundation for generating greater income and wealth. China has a workforce of over 900 million. Every year, about 13 million students graduate from colleges and secondary schools and a large number of rural surplus labor migrate to towns and cities. We see employment as a key indicator of economic performance and promoting steady growth is mainly for the purpose of securing employment.

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We always knew that it was going to happen but it is a surprise to see it happening so quickly. We have been preparing for this for some time and think it's the way to go. We have had guests and corporates ask us questions about what we are doing about plastic use.

We will open our financial sector wider. Full market access for foreign investors to the banking, securities and insurance industries is being expedited. We will significantly widen the business scope of foreign-invested banks, lift the special restrictions on the business scope of foreign securities firms and insurance brokers, and significantly ease market access constraints on credit investigation, credit rating, bank card clearing and non-bank payment services. All these measures will be fully delivered in a well-coordinated manner. We will make it easier for foreign-invested companies to make venture capital investment and set up investment companies, and improve the relevant regulations governing foreign investors' strategic investment in listed companies and their mergers and acquisitions of domestic companies. We will further open China's bond market and introduce relevant policies to make it easier for overseas investors to invest in and trade Chinese bonds.

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Wang, who was also deputy head of the district's epidemic prevention and control headquarters, was investigated by Wuhan's commission for discipline inspection earlier, according to the commission's statement on Feb 16.

Washington, Seoul and Pyongyang need to treasure what has been achieved, increase their communication, and try to overcome the mistrust and suspicions that stand in the way of a historic breakthrough.

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Was that inherent in their genetic makeup or the result of early success?

Watch the full hearing before the Senate Commerce Committee here.