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China should increase the share of core technology investment in its research and development expenditure, which is only 5 percent, compared with 17 percent in the United States. It is also necessary for China to carry out institutional reforms to promote the transformation of scientific and technological achievements into productive forces, Huang said.

China released a master plan in early June on building Hainan into a globally influential free-trade port.

China reduced its carbon intensity by 5.2 percent in 2017, PwC, also known as PricewaterhouseCoopers, found in its annual Low Carbon Economy Index of G20 members. Carbon intensity rates are measured by comparing greenhouse gas emissions with a nation's energy demand and gross domestic product.

China welcomes France's participation in building the Belt and Road Initiative, Xi said, referring to the ongoing development of building the Silk Road Economic Belt and 21st Century Maritime Silk Road, which has won support from more than 100 countries and organizations.

China should establish a new insurance system for poverty alleviation, according to Zheng Wei, director of the Risk Management and Insurance Department of Peking University.