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China has made remarkable progress in the 40 years since it adopted reform and opening-up, and has been the largest single contributor to the global economy since the 2008 global financial crisis, Singaporean Vice-Prime Minister Teo Chee Hean said before Li's speech.

China has been the world's largest importer and recycler of waste plastic, paper and scrap metal. At the beginning of the year, China placed import restrictions on more than 20 types of solid waste from other nations. As China limits the amount of material that can be imported, Chinese companies are looking to the US to ensure ample supplies and to establish recycling operations. 

China has been committed to a road of cooperation for development and win-win, and will not take the West's old road of a strong country having to seek hegemony, Wang said.

China cut the reserve requirement ratio for selected banks four times in 2018 and has recently introduced a targeted Medium-Term Lending Facility, a tool used to adjust liquidity, to supply lower-cost funding to banks so that they can lend the money out to support the real economy, such as small enterprises.

China has always been a great market for us, but I think we have only just realized what we can offer here. Globally, China is our third-largest behind the US and the United Kingdom. China is also the fastest-growing market for us.