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BEIJING, May 22 (Xinhua) -- China will set up a proper pricing mechanism for debt-to-equity swap programs and develop new approaches to pursuing swaps to promote market-oriented, law-based debt-to-equity swap.

In the Global Innovation Index published by the World Intellectual Property Organization in 2018, China moved up the ranking to No. 17 from No. 22 in 2017, making its way to the world's top 20 for the first time.

COMING OUT OF AMERICANS' POCKETS

China supports Afghanistan and Pakistan to improve relations, enhance mutual trust and carry out cooperation, and is ready to further promote the China-Afghanistan-Pakistan trilateral cooperation, he said.

"We are glad we contributed from the beginning to the setting-up of AIIB, because this bank is a real success story," Gramegna said in an interview during the fourth annual meeting of the AIIB, which is the first annual meeting to be held outside Asia, adding that hosting the meeting shows Luxembourg's commitment to the development bank.