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China's sharing economy achieved a trading volume of 3.28 trillion yuan (9.11 billion) in 2019, a year-on-year growth of 11.6 percent, according to an annual development report on China's sharing business released by the State Information Center.

China's rapidly growing middle-class consumers, increased economic growth and growing urbanization are all factors that contribute to the positive forecast. Since 2000, China's commercial jet fleet has expanded sevenfold, and approximately 25 percent of all aviation growth worldwide in the past decade has come from China.

China-Russia coordination, he added, has played an important role in pushing for a peaceful settlement of the Korean Peninsula nuclear issue and the Syrian issue.

China's telecom universal services have promoted internet applications including tele-education, telemedicine and e-commerce in rural China, said MIIT chief engineer Zhang Feng at a seminar on telecom universal service and ICT for poverty alleviation.

China's property market, once deemed a major risk for the broader economy, cooled in 2017 amid tough curbs such as purchase restrictions and increased downpayment requirements as the government sought to rein in speculation.