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China began to create nationwide basic medical insurance that covers urban and rural residents in 2007, and coverage expanded over time. More than 1.35 billion people are covered by the system, according to the National Health Commission, about 95 percent of China's population.

China has maintained its spot as the world's second-most valuable national brand, with its worth rising 25 percent to .8 trillion, according to a new report, second only to the United States of America, whose value is .9 trillion.

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 expects the total production and sales of NEVs to hit 5 million by 2020. A total of 777,000 NEVs were sold on the Chinese market last year, up 53.3 percent year on year.

China has already started its third-phase tests on 5G research and development, in the hope of getting pre-commercial system products ready by the end of this year.