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China is capable of mitigating the impact on its foreign trade caused by the novel coronavirus epidemic and will maintain its trade growth momentum this year, experts and business leaders said on Sunday.

China has vowed to further strengthen its oil and gas pipeline network during the next decade, in an attempt to further boost the clean fuel's share in the country's energy mix.

China is a manufacturing powerhouse in mid-and low-end goods. But the US is still the dominant player in high-value industries. The US also has an extremely sophisticated service industry and thrives on innovation, research and development.

China is firmly committed to a basic national policy of opening-up, and will continue to pursue development, he said, adding that the door to openness will not be closed, but only be opened wider.

China has said the current international system is like a well-designed building with multilateralism being its cornerstone. The need is not to build another structure but to renovate the existing one to better reflect the new reality and meet countries’ needs.