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China released a draft guideline on Monday to encourage and regulate the booming bike-sharing industry.

China will continue to create more opportunities for the world through pushing forward its economic development, Xi said, adding that China has contributed to more than 30 percent of global economic growth in the past five years.

China saw its foreign trade rise 5.1 percent year-on-year in June, with exports and imports up 4.3 percent and 6.2 percent respectively.

China should improve its monetary policy management, squeeze out insolvent enterprises, and strengthen financial regulatory framework to prevent the eruption of systemic financial risks, said Huang Yiping, an economics professor of Peking University and a central bank advisor, in an article of the International Economic Review journal, published by the Chinese Academy of Social Sciences.

China lifted 740 million people in rural areas out of poverty between 1978 and 2017, or about 19 million people each year, according to the National Bureau of Statistics. The country had another 30 million people to lift out of abject poverty, according to the figures.