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China hopes to strengthen communications between the foreign affairs departments of China and the Democratic People's Republic of Korea to implement the important consensus the two countries' leaders reached and promote development of bilateral ties, Vice-Foreign Minister Kong Xuanyou said on Thursday.

China is a highly competitive economy. In the past, some sectors have been a "wild west" where Chinese firms did not hesitate to copy each other or foreigners. But, as China has developed its own technology and moved up the value chain, protecting intellectual property rights has become a high priority for the government.

China has relative low non-performing ratios in issuing green credit as the nation is committed to achieve green development as the nation is gearing toward more sustainable development, he said.

China has the largest middle-class in the world, around 300 million and growing, accounting for 30 percent of the world's total. Morgan Stanley expects China to gain high-income status by as early as 2025.

China has stated its positions and concerns on topics such as the building of the US-led missile defense networks, the additional deployment of THHAD and the military cooperation among the ROK, the US and Japan, the release said.