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China remains the powerhouse and pivotal driver of the automotive market in the world, with the original equipment market experiencing a steady ascent. In 2016, the production and sale of automobiles in China grew rapidly and achieved record heights. The production and sales reached 28.12 million and 28.03 million units, respectively.

China will continue to grow economically and prosper and it will continue to modernize. It is moving away from low-cost, low-wage manufacturing of goods to be exported around the world, to an economy that is more innovation and technology based.

China stands ready to strengthen cooperation with African countries in such fields as providing medical supplies — including test kits — advancing the building of an African disease control center and partnership in public health and disease control, Xi said.

China released a detailed plan last October, allowing banks to exchange bad debt for stocks in companies concerned, which will help free up bank balance sheets.

China is willing to promote development, maintain security and share results with other countries in the field of artificial intelligence, President Xi Jinping said on Monday in a congratulatory letter at the start of a gathering in Shanghai that has drawn some of the world's top AI luminaries.