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China is ramping up efforts to boost new types of consumption and foster consumption upgrading amid the novel coronavirus outbreak, the nation's top regulator of the industry said on Wednesday.

China is seeking to strike a balance between supporting a slowing economy that has been affected by the trade friction with the United States and controlling financial risks.

China is implementing a national big data strategy centered on building the country's strength in cyberspace and nurturing a digital China and smart society, which will aid the transition of the country's economy from high-speed growth to high-quality development, Xi said.

China is currently the largest contributor to global economic growth. It is within this context that the second China International Import Expo will be held from Nov 5 to 10. Elkem, a world-leading supplier of silicone and silicon-based solutions headquartered in Oslo, will showcase its sustainability-oriented products, technologies and solutions at the show.

China is preparing the next phase of the integrated development of the Yangtze River Delta region — a new development plan mapped out to build the area into an economic powerhouse that will add to the country's high-quality development.