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China is competitive in electricity equipment and technology, which will help the world in electricity supply and energy transformation, he said.

China is the world's largest car market for new energy cars, but such vehicles accounted for less than 3 percent of new car sales in the first half of the year, according to statistics from the China Association of Automobile Manufacturers.

China has set the tone of its 2017 monetary policy as prudent and neutral, keeping an appropriate liquidity level but avoiding excessive liquidity injections.

China is facing "significantly increasing challenges in terms of financial risk prevention and tackling", but given the country's sound economic fundamentals and its pre-emptive approach to controlling financial risks, the financial sector remains well under control－that's the key takeaway from two major developments last week.

China has stepped up efforts to fight against telecom fraud in recent years. Sichuan police have cracked 1,757 telecom and online fraud cases and frozen one billion yuan of fraudulent money so far this year.