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China's new round of reform and opening-up, and consumption upgrade will create new opportunities in niche sectors including high-tech waste recycling, quality control, food safety, medical processes and fintech, areas where French companies have proven technological expertise, a senior French business leader said on Friday.

China's exports increased 6 percent to reach 1.32 trillion yuan, while imports surged 30.2 percent to stand at 1.19 trillion yuan in January, according to the General Administration of Customs Thursday.

China's new development philosophy, which embraces innovation, coordination, going green, openness and sharing, is the guidance of the 14th Five-Year Plan, which is also a significant part of Xi's economic thought, said Yang Weimin, deputy director of the Economic Affairs Committee of the Chinese People's Political Consultative Conference National Committee.

China's economy expanded at a 6.9-percent pace in the first quarter, accelerating from 6.8 percent in the previous quarter, and 77.2 percent of it was driven by consumption, 12.6 percentage points higher than the 2016 level, according to official data.

China's gross domestic product (GDP) expanded by 3.2 percent year-on-year in the second quarter, following a 6.8 percent contraction in the first quarter, according to newly released data from the National Bureau of Statistics (NBS).