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China will extend tax exemptions for new energy vehicle purchases for another two years in a bid to boost consumption and stabilize the virus-hit economy, authorities announced on Wednesday.

China will not change its stance of firmly supporting the European integration process, and believes that Europe is capable and wise enough to face the challenges, Xi said.

China's GDP has increased by a factor of 56, and the ambassador said "we have lifted more than 700 million people out of poverty, contributing to more than 70 percent of the world's total poverty reduction", underlining China's tremendous achievement in building a community with a shared future for mankind.

China's banking sector holds huge potential for information technology companies.

China's FDI rose 4 percent year-on-year to 9 billion in 2018 from 4 billion in 2017, the report said.