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China's foreign exchange reserves fell slightly to .11 trillion in August. [Photo/VCG]

China's high-quality economic development requires a higher level of consumption. For instance, consumption behaviors like eating wild animals should be strictly prohibited.

China's debt risks are under control as enhanced supervision has taken effect, but regulatory bodies need to enhance coordination to tackle risk points, an economist with a government think tank said on Tuesday.

China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development. This is a pivotal stage for transforming our growth model, improving our economic structure, and fostering new drivers of growth. It is imperative that we develop a modernized economy. This is both an urgent requirement for getting us smoothly through this critical transition and a strategic goal for China's development. We must put quality first and give priority to performance. We should pursue supply-side structural reform as our main task, and work hard for better quality, higher efficiency, and more robust drivers of economic growth through reform. We need to raise total factor productivity and accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and human resources. We should endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation. This will steadily strengthen the innovation capacity and competitiveness of China's economy.

China's new billion Beijing Daxing International Airport is expected to become a vital cog in global airport transfer passenger flows and improve Beijing's standing as a major global aviation hub, industry experts said.