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China has leapfrogged ahead to become the global center of financial technology innovation and adoption, outpacing the likes of New York, London and Singapore by a wide margin, according to a joint report by consultancy Ernst& Young and DBS Bank in 2016.

China has attached great importance to Russia's initiative of the Eurasian Economic Union and related ministries of both sides are in discussions of concrete measures to boost the integration, the vice premier said.

China has established a tight rule of law system against corruption, it said, adding that the country has improved anti-corruption institutions and resolutely fought against corruption.

China has also made great strides in green industries and technologies, especially in the cleaner use of coal, Zhang said.

China has been making efforts to create a better business environment. Through simpler approval processes, lower corporate fees and technology-based services, the government is transforming its functions to let the market play a larger role in the economy.