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China saw its installed capacity of renewable energy grow 9 percent year-on-year to 794 million kilowatts by the end of last year. Wind and solar farms' capacity rose by 14 percent and 17.3 percent year-on-year, respectively, the National Energy Administration said.

China should pay more attention to maintaining a balance between cutting leverage levels and stabilizing economic growth in the second half of this year after it achieved faster-than-expected GDP growth of 6.9 percent in the first half, said a former central bank adviser.

China was the key driver of the growth of global renewable energy last year, accounting for more than 40 percent of the growth in renewable power, more than that of the entire Organization for Economic Cooperation and Development. China also overtook the US as the largest producer of renewable power.

China may be ranked seventh globally when it comes to the number of professionals working in the cutting-edge industry of artificial intelligence, but the country is predicted to climb the rankings in the next decade.

China released a guideline to expedite reforms of the country's socialist market economy system on Monday as a major step in its pursuit of high-quality development.