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China follows a people-centered development philosophy and a new development vision that features innovative, coordinated, green and open development for the benefit of all. In the past few decades, China has lifted more than 700 million people out of poverty and will completely eliminate poverty by 2020. The Chinese economy has been contributing over 30 percent of the global growth for many years. Its shift from high-speed to high-quality growth is gathering pace. For one thing, consumption accounts for 78% of China's growth this year. The overall momentum of sustained and sound growth will continue.

China has been "cautious "against excessive monetary easing this year to strike a balance between stabilizing the economy and preventing risks, paving the way for sustainable development amid protracted uncertainties, said a senior economist.

China disclosed the total State-owned financial capital held by financial institutions for the first time in October 2018. By the end of 2017, the total amount of State-owned capital in financial institutions stood at 16.2 trillion yuan (.31 trillion), said a special report from the State Council.

China has become the world's second largest online advertising market and overtaken the United States to have the most movie screens, and boasts a huge population of videogame players. The markets for fee-based music and other content are also on a fast track thanks to strengthened protection of intellectual property.

China has actively participated in promoting and the signing of the Paris Agreement, Li said, adding that China was also one of the first countries to submit the file of national plan on dealing with climate change to the United Nations.