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On China's role in G20, Boleat said China is the second biggest economy in the world, and as such "it plays a very vital role in the global economy."

China will urge the related parties to continue implementing the "Plan of Action to Implement the Phnom Penh Declaration on EAS Development Initiative", advancing cooperation in six key areas and sticking to the "two-wheel drive" of economic development and political security, so as to promote the sound and stable development of the summit, Liu said.

Scientific and technological advances should contribute 60 percent of economic growth by 2020, up from the current 55.1 percent, and China's global ranking in innovation capability will also improve, according to the plan.

Venture capital in China refers to growth equity capital, or loan capital, invested by private investors or specialized financial institutions in innovative business start-ups. Investors mainly gain profits through transferring their share of equity as these companies mature.

BEIJING, July 20 (Xinhua) -- Gao Yu planned to take the train from Beijing to Tangshan in north China's Hebei Province on Wednesday morning. But when she arrived at Beijing West Railway Station, she found her train was among many that had been delayed due to heavy rain.