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But he ruled out the possibility of working out a quantitative target initiated by the government.

Merkel spoke highly of the sound development of bilateral ties with China.

BEIJING, June 24 (Xinhua) -- China and Russia on Friday pledged to further expand two-way investment cooperation to boost bilateral relations.

"Supply-side reform is mainly two things, one is to improve the Chinese companies' productivity and the other is to win the competition in a global market," said Zhao at a Chinese executive training program held at Rutgers Business School on Tuesday.

-- The United States has said it welcomes China's peaceful rise while repeatedly stressing its own role of world leader. Meanwhile, China has tried to adapt to the existing global governance system while proposing to improve the global political and economic order. Such interdependency and compromise have increased China's engagement in international affairs and given it greater say and influence.