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The Chinese economy has become more stable and sustainable, and has made progress in restructuring and improving efficiency, Li said when addressing the opening of the Annual Meeting of the New Champions 2017, or Summer Davos, in Dalian.

It has also been working to improve the market environment to attract foreign investment. Today, over 95 percent of new foreign enterprises in China do not need government approval before being set up.

"I arrived at the site at 7:30 a.m. and found that the whole area was buried by the landslide," said He Dajun, a worker with Maoxian County Power Company.

"The Party has inspired a spirit of striving for a better future," Xin said.

Sun's remarks were echoed by Jiang Yi, a researcher with the Institute of Russian, Eastern European, Central Asian Studies under the Chinese Academy of Social Sciences, saying that the SCO had taken the lead in building new international relations, particular in resolving deep-rooted historical problems and creating a new consensus.