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China is one of the most dynamic places for economic growth and innovation in the world. The entire country is going through a digital transformation, driven by technology and innovation. So, it is no surprise that digital transformation tops the agenda among business leaders across the country.

China is ready to work with Singapore to further cement political mutual trust, better connect development strategies and deepen the Belt and Road Initiative cooperation, so that China-Singapore relations will keep breaking new grounds in the years to come, he added.

China is actively involved in multi-disciplinary research and actively participates in monitoring and assessing local climatic and environmental changes, according to the white paper.

China is increasingly gaining a greater presence in the global crude oil market in recent years, due to the internationalization of its currency, the launch of yuan-denominated oil futures, and easier access to the global crude oil market for domestic buyers, he said.

China is unlikely to face major inflationary pressure this year, despite the consumer price index, a primary barometer of inflation, hitting a 15-month high in May, analysts said on Wednesday.