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China is now transitioning from a rapid development stage to a new phase of high-quality development, shifting the focus to quality instead of the quantity.

China has taken a lead in many areas of financial technologies, such as mobile payments and e-commerce, Paul Schulte, head of an institute that focuses on research of financial institutions and technology, told the Vision China event on Tuesday.

China has stepped up its opening-up for imports since the first China International Import Expo in early November. Deals for intended purchases of goods and services worth a total of .8 billion (.4 billion) were reached at the first CIIE.

China in 2017 issued a plan to encourage large-scale adoption of the IPv6 network. According to the plan, by the end of 2025, network and terminal devices will fully support the adoption of IPv6 in China, and it will have the largest number of IPv6 users in the world by the end of 2025.

China is ASEAN's largest trade partner, and ASEAN is China's third largest partner. Trade between the two rose 13.8 percent to 4.8 billion last year.