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China's economic development has transformed from the phase of high growth speeds underpinned by high inputs of resources into a new phase that features a slower growth but improvements in the quality and efficiency of growth, according to him.

China's logistics industry has recovered steadily in the first four months of the year, China Federation of Logistics and Purchasing said on Thursday.

China's first domestically produced single-aisle passenger jet, the C919, is expected to take to the sky for its maiden flight on Friday, as the country endeavors to meet soaring domestic travel demand and break the global market duopoly of Boeing Co and Airbus Group SE.

China's gold consumption reached 1,089.07 tons in 2017, a year-on-year increase of 9.41 percent, with demand for gold jewelry, gold bars and industrial uses surging. Demand for gold is expected to continue rising with the growth in high-end consumption and demand from second and third-tier cities, it said.

China's new manufacturing fund will provide impetus for the nation's industrial restructuring, and help it better pursue high-quality growth, experts said.