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China is still a developing country. Despite our large economy, the per capita GDP is ranked below 70th place in the world. China’s development remains unbalanced and inadequate with significant disparities between different regions and between urban and rural areas. In many places, transportation, energy, utilities and other types of infrastructure remain underdeveloped. In rural areas, over 30 million people still live in poverty with an average annual income of less than 3,000 RMB yuan. But every coin has two sides. The upside of the disparities is that they also represent big space for development. With a huge market of more than 1.3 billion people, China has vast potential, great resilience and broad space for maneuver in coping with changes in the global environment. Its economy is fully capable of sustaining sound growth.

China has room for increasing targeted investment in non-traditional infrastructure, he said.

China is capable of reaching its goal of building a moderately prosperous society in all respects by next year with support from macroeconomic policies, despite troubles caused by the COVID-19 pandemic, political advisers said.

China is the world's biggest intelligent electric vehicle market, and Chinese consumers have a strong demand for such vehicles and are very open to innovation or new things, which is completely different from Europe and the United States, Carsten Breitfeld, CEO and co-founder of Byton, said in an interview with China Daily.

China is currently the biggest crude importer worldwide with a foreign oil dependency ratio of as high as 72 percent. The country has also been stepping up efforts in oil and gas reserve construction in recent years to ensure energy security.