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China is set to become the world's largest payment market by 2020, according to research firm Global Data Plc.

China is Mongolia's largest trade partner and a major foreign investor. Bilateral trade grew 36 percent to reach 6.7 billion U.S. dollars in 2017, accounting for 63 percent of Mongolia's total trade. The two sides have upped the ante, raising the target to 10 billion dollars by 2020.

China has provided assistance to more than 127 countries and four international organizations, donated million to the WHO, and sent 14 teams of experts to fight the epidemic in 12 countries.

China is to produce more and better new energy vehicles in the coming years as a slew of policies have been announced to spur the sector's development in the country, according to analysts.

China is establishing itself as a world leader in renewable energy sources thanks to its ever-increasing installed new energy capacity, which soared to 650 gigawatts in 2017 for a year-on-year increase of 14 percent, according to the National Energy Administration.