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China has made enormous strides in the science and technology sectors in recent decades, and an emphasis has been put on the Chinese government's five-year plan and the country's overall development aspirations, he said.

China has been the largest trading partner with Mongolia for more than a decade with bilateral trade up 44.2 percent year on year to reach .1 billion in the first half of 2017, he said.

China has moved to the center of the global stage. Now, it has a bigger say in the International Monetary Fund and the World Bank; it has made the Shanghai Cooperation Organization a more active, international organization; and it has developed the Asian Infrastructure Investment Bank. President Xi Jinping goes to Davos and, as the US seems to be stepping away from globalization and climate change, advocates more internationally public goods. There was talk about making the market the decisive allocator of resources, and there has been less progress made on that.

China has been pressing ahead with the "toilet revolution" in rural areas to improve rural residents' living quality.

China currently has more than 210 oil refineries. Twenty-three of them are large refineries that have an annual refining capacity of 10 million metric tons as of end of 2017.