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China opposes any arms race in space, a government spokesman said following United States President Donald Trump's announcement on Monday that he is directing the Pentagon to establish a "space force".

China remained in first place in quality of innovation among middle-income economies for the seventh consecutive year, according to the report, and achieved the top spot in patents, utility models, trademarks and industrial designs by origin, as well as high-technology and creative goods exports. The country also ranked second only to the US in 18 of the top 100 science and technology clusters.

China is willing to be a long-term and reliable partner while Ethiopia is developing the country and rejuvenating the nation, Wang said.

China rolled out a master plan in June for the development of the Hainan Free Trade Port, which introduced a long list of opening-up policies aimed at building the island into a globally influential free-trade port by the middle of this century.

China vowed to keep its prudent monetary policy "neither too tight nor too loose" and make counter-cyclical adjustments in a timely and moderate manner, the central bank said Friday in its second-quarter monetary policy report, adding that the country will not resort to flood-like stimulus policies.