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China expects the United Kingdom will maintain its openness and work with China. [Photo/VCG]

China has been "cautious "against excessive monetary easing this year to strike a balance between stabilizing the economy and preventing risks, paving the way for sustainable development amid protracted uncertainties, said a senior economist.

China has been scrambling to catch up to the U.S. cloud computing industry since around 2011, when a report prepared for the U.S. government identified a keen interest in cloud computing from business and military leaders in China. The market for cloud services in China is now expected to reach just over 0 billion in 2020, driven by homegrown startups, multinational corporations, and government agencies.

China firmly supports ASEAN in playing a leading role in East Asian cooperation, Wang said, adding that the members of the East Asia Summit should comply with the common aspirations of the countries in the region, respect their legitimate demands, adhere to the multilateralism with East Asian characteristics, abide by the basic principles of regional cooperation, and make positive contributions to ensuring the lasting peace, prosperity and development of East Asia.

China has about 4 trillion yuan in its pension fund balance, and more provinces should be encouraged to try entrusted investment, Tang said.