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China has declared the principal contradiction the country faces as the contradiction between unbalanced and inadequate development and the people's ever-growing need for a better life.

China has been actively assuming its international responsibility and participating in global governance by putting forward new concepts, thoughts and plans to reshape the global governance system, said Liu Wei, president of Renmin University of China, at a global governance forum on Saturday in Beijing.

China has been on an initial public offerings (IPO) frenzy in the first six months of 2017, with 247 companies going public and more than 125 billion yuan (.46 billion) secured in IPO fundraisers, Securities Daily reported Tuesday.

China attaches much emphasis on related technologies and applications as autonomous driving will help improve transport safety, efficiency, services and industrial development, Li added.

China has always viewed relations with Latin American and Caribbean countries from a strategic and long-term perspective and promoted China-CELAC cooperation on the basis of equality, mutual benefit and common development, said Wang Yi at the meeting at United Nations Headquarters in New York.