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China has advocated the resumption of talks and a "dual-track" approach — advancing denuclearization and simultaneously establishing a peace regime. "We are now beginning to see this come to fruition," said Taylor.

China has been supporting its medium-high speed of economic growth with a comparatively lower energy consumption growth, it said.

China has introduced a raft of opening-up policies in the banking and insurance sectors over the last two years, including expanding the business scope of foreign-invested firms and easing market access.

China has encouraged one-stop financing and investment services for medium and small-sized enterprises (SMEs) to expand their funding channels, and enhance credit support for enterprises in technology and science, according to a guideline issued by China's cabinet, the State Council.

China enjoys many advantages of achieving high-quality development such as the world's most complete industrial system and a huge market and talent pool, the meeting noted.