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China has officially approved 5G commercial services earlier in June, and is currently testing 5G across all major cities and provincial regions. The country's 5G market is expected to start small-scale commercial use this year and large-scale commercial use next year.

China has entered a new phase of consumption upgrades, rising demands have strongly boosted the growth of service industries, Xu said, citing prosperity-denoting business activity indexes in sectors including internet software and telecommunication.

China has pledged a more proactive and effective fiscal policy in 2017, with the fiscal deficit set at 3 percent of its GDP, or 2.38 trillion yuan, up 200 billion yuan from 2016.

China has a long tradition of patient leadership and long-term planning when it comes to the environment. It has also made impressive strides on the renewable energy front.

China has made impressive achievements in cutting small-scale coal burning to protect the environment during the 13th Five-Year Plan (2016-20) thanks to effective and precise policy measures and generous financial support, according to a recent report issued by the Natural Resources Defense Council, a nonprofit environmental organization.