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Acknowledging China's slower economic growth with reformed structure under the new normal, these institutions showed less concern about the country's economic hard landing and financial risks compared to last year, and China is expected to continue stabilizing.

Both countries, with a long history and abundant culture, have made impressive contributions to mankind's development and progress, Liu said, stressing that China is willing to boost cooperation with the Czech Republic in fields such as culture, education, sports, tourism and Chinese medicine.

Political advisors said the VAT reform was an important measure that China has taken to push the supply-side structural reform and reform of its fiscal and tax system.

"The industrial foundation is not solid and we have not achieved breakthroughs in core technology of NEV batteries, so the competitiveness of the industry should be further sharpened," said Qu Guochun, deputy director-general of the machinery industry department at the MIIT.

"President Trump and I have attached great importance to Sino-U.S. relations and are willing to actively promote the continuous development of bilateral ties," he said.