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China's rapid advancement in the technology field also contributed greatly to relieve the employment burden of its large working population. JD.com, China's second-largest e-commerce company, was cited by the World Bank for the first time in the annual report as a typical example of the trend.

Chinese Ambassador to Greece Zhang Qiyue (L) and Greek Alternate Migration and Asylum Minister Giorgos Koumoutsakos pose for a photo at the donation handover ceremony in Athens, Greece, on April 22, 2020. [Photo/Xinhua]

China, the world's second-largest economy, consumed 280.3 billion cubic meters of natural gas last year, up 18.1 percent year-on-year, according to figures from the National Development and Reform Commission, the nation's top economic regulator.

China, Allen said, is becoming an innovative economy in many areas — payments, electronic vehicles, drone technology, artificial intelligence and some aspects of life sciences.

China, the largest green bond issuer in the world, needs to make further improvements in market infrastructure by increasing private participation, developing an offshore market and aligning its domestic green bond issuance standards with international ones, experts said.