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At the same time, Africa's population is expected to more than double by 2050 with accelerated urbanization. This population growth, doubled with continued economic development, will create significant demand for pharmaceuticals, as well as other health products.

At the EU-China summit earlier this month, Premier Li said he would be "fully supporting" free-trade talks, should the EU agree to start them.

At the meeting, the State Council's members agreed to develop the commercial endowment insurance sector so it can become a pillar of the nation's social insurance system, saying its role in the social security system will be strengthened as a result.

At this time, Ningbo has established 60 research institutes for advanced industries and technologies such as artificial intelligence and smart manufacturing. Innovation centers have been stationed in the city focusing on cutting-edge products such as graphene and magnetic materials.

At the 2017 Fortune Global Forum, Jack Ma said he really took a rosy view of the development of cutting-edge technologies such as AI, adding he is willing to use the new technology to empower Alibaba and its clients.