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China is able to solve major problems by pooling resources and efforts, and it is a great feat to bring tens of millions of people out of poverty with measures including industrial development and job creation, Foe said.

China is expected to see booming ice and snow tourism ahead of the 2022 Winter Olympics in Beijing, said a report released by the China Tourism Academy at a forum in Harbin, capital of Northeast China's Heilongjiang province, on Jan 5.

China implemented a 4 trillion yuan stimulus package in 2008 to navigate through the global financial crisis. Aftereffects of that package caused many economists and finance professionals to be overcautious against large-scale stimulus. But we must understand that whether China adopts major stimulus measures or not depends on macroeconomic challenges and cost-benefit analysis.

China is promoting standards for digital fiat currency around the globe based on its leading research, according to central bank officials.

China has said it will target high quality growth, with the service sector and high-tech industries gaining strength.