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China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development. This is a pivotal stage for transforming our growth model, improving our economic structure, and fostering new drivers of growth. It is imperative that we develop a modernized economy. This is both an urgent requirement for getting us smoothly through this critical transition and a strategic goal for China's development. We must put quality first and give priority to performance. We should pursue supply-side structural reform as our main task, and work hard for better quality, higher efficiency, and more robust drivers of economic growth through reform. We need to raise total factor productivity and accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and human resources. We should endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation. This will steadily strengthen the innovation capacity and competitiveness of China's economy.

China's domestic-made 'sea airship' Xiangzhou 1 was showcased in Sanya, South China's Hainan province, Dec 11.

China's economy has entered a period featuring medium-high growth rather than fast growth, along with upgraded economic structure and innovation. The changes in the world's second-largest economy are driving demand for skilled workers and entrepreneurs.

China's fast-growing 5G telecommunication infrastructure can also be a convenient platform for the company to make more breakthroughs in innovation, he said.

China's exclusive national carrier, Air China, celebrated the launch of its newest route between the United States and China at Tom Bradley International Terminal of Los Angeles International Airport.