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China's per capita GDP will reach the level of moderately developed countries, with a significant reduction in disparities in urban-rural development, in development between different regions and in living standards, and the modernization of national defense and the military will be basically achieved, it said.

China's services sector staged the strongest expansion in nearly a decade last month, the latest signal that the economy is on track for a sustainable recovery, a private survey released on Wednesday shows.

China's total imports of goods and services accounted for 9.7 percent of the world's import market in 2016, increasing from 8.4 percent in 2011, according to the World Bank. The expansion of China's import demand will make greater contributions to the prosperity of international trade and effectively promote the rebalancing of the world economy, Zhang added.

Chinese President Xi Jinping (R) holds talks with Chilean President Michelle Bachelet at the Great Hall of the People in Beijing, capital of China, May 13, 2017.[Photo/Xinhua]

China's socialist democracy is the broadest, most genuine and most effective democracy to safeguard the fundamental interests of the people, Xi said.