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China is aiming to lift all rural residents, living below the current poverty line, out of poverty by 2020. This year, China will further reduce the poor rural population by over 10 million, according to a government work report.

China is likely to adopt the revised Securities Law by the end of the year, in a move to lay the legal foundations for capital market reforms prioritizing the registration system, experts said.

China is now transforming from the phase of rapid development to a new stage of high-quality development and shifting its focus to nurturing technological innovation and further opening up its economy.

China is the world's second-largest oil consumer after the United States. Demand is likely to soar in the future as the country is thirsty for fuel that can sustain its economic boom.

China is the market where this development will be among the very fastest around the world, according to him.