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Huang Yiping, chairman of the CF40 Academic Committee, strongly agrees with such emphasis. "Innovation is the only way to relieve pressure from rising production costs and sustain growth in the years to come," he told Xinhua.

In recent years, the regional government has been dedicated to promoting employment, education and medical services to improve people's circumstances, with over 70 percent of the fiscal budget spent on ensuring and improving people's wellbeing.

"To eliminate poverty, to improve people's livelihoods and achieve common prosperity are the essential requirements of socialism with Chinese characteristics and important missions of the CPC," he said.

China was elected to the Human Rights Council five times in 2006, 2009, 2013, 2016 and 2020.

For this reason, he said that China's goal of eliminating absolute poverty this year is achievable, as over 90 million people in rural areas have already been lifted out of poverty from 2013 to 2019.