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China has ambitious plans for urbanization, and elevators will play an important part, said Hiesinger, adding that this means a "tremendous growth market."

Far above the target, the profit of the liquor sector of Fenjiu Group, one of the country's leading liquor brands, increased by 68 percent year-on-year last year. Other major performance targets in the contract were also achieved.

BEIJING, March 21 (Xinhua) -- China's newly-elected top legislator Li Zhanshu Wednesday stressed upholding the leadership of the Communist Party of China (CPC) in the legislature's work.

In the meantime, by deepening domestic reforms, promoting industry restructuring and diversifying its export markets, China is capable of turning a crisis into an opportunity for further economic progress.

At different stages, relevant parties should take responsibilities and obligations accordingly so that the peace process will proceed in a sustainable manner and negotiations will not be interrupted, Wang said.