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China is rich in iron ore, but the quality is low and the production costs are high. Therefore, Chinese steel mills rely on imported iron ore, said Zhu.

China imported more than 53 million tons of LNG last year, reaching a new historic high by accounting for 60 percent of total natural gas imports, Zhang Jianhua, head of the National Energy Administration, said earlier. The country has also been stepping up construction of its LNG infrastructure facilities in recent years.

China is also expecting a boom in winter-sport tourism as local authorities rush to tap opportunities presented by the 2022 Winter Olympic Games in Beijing.

China is able to achieve ethnic harmony, economic growth and social progress in Xinjiang thanks to three basic principles. The first is equality of all ethnic groups. It is China's consistent position to oppose ethnic discrimination of all forms against any group, and to prohibit all moves that undermine unity and incite division. Recent initiatives, such as "United as One Family" aimed to eradicate poverty and achieve common prosperity by focusing on the most needy, are welcomed by all ethnic groups in Xinjiang.

China is confident in how it deals with external challenges and is further tapping the domestic market potential while accelerating the pace of negotiations with the European Union to reach a quality bilateral investment treaty, the Ministry of Commerce said on Thursday.