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China's stable economic growth mainly stems from major progress in economic reforms, particularly supply-side structural measures (such as cutting overcapacity in key sectors like steel and coal), and the government's ability to maintain a stable macroeconomic policy, he said.

China's pork production capacity is expected to bottom out before the end of this year and return to normal in 2020 after a widespread, deadly pig disease that has devastated the country's hog herds for more than a year, the Ministry of Agriculture and Rural Affairs said on Thursday.

China's resumption of production will help anchor regional production and confidence, the director said. The region's electronics and semiconductor industries－spurred by 5G and artificial intelligence development, petroleum and chemicals from energy consumption－and textile and garment sectors will benefit from the resumption of manufacturing in China.

China's second major fiscal reform arrived in 2014, through an amendment to the Budget Law of 1994. One of the key outcomes was overhauling budget reporting, including a requirement for central and local authorities to publish four budget accounts. That amendment represented a big step forward in transparency, experts said.

Chinese Foreign Ministry spokesperson Lu Kang said at a daily briefing on Jan. 3 that China always believes that more positive interactions and productive dialogues between the United States and the DPRK will contribute to the settlement of the Korean Peninsula nuclear issue as well as peace and stability of the Korean Peninsula.