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China has made endeavors to balance relations between today's needs and emerging development and between efficiency and equality to shift from high-speed growth to high-quality development, which is in line with the fundamental interests of the people, Wang said.

China has done a very good job of urbanizing so far, but there is still room to make more urban opportunities available to everybody, he added.

China has already forged a variety of gas cooperation deals and undertaken investments in recent years with the SCO members, including the Yamal liquified natural gas project in the Arctic region of Russia between CNPC, the country's largest oil and gas producer by annual output, and Novatek, Russia's independent natural gas producer.

China has made strides in healthcare reform this year, including removing import tariffs on cancer drugs, accelerating the review and approval process for innovative medicines and accepting overseas clinical trial data.

China has 150,000 SOEs at different levels, which manage more than 100 trillion yuan in assets and employ more than 30 million people.