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China is set to overtake the United States to become the world's largest economy by 2032, according to the World Economic League Table, published annually by the Centre for Economics and Business Research, or CEBR, in London.

China is facing increasing pension payment pressure due to the acceleration of economic restructuring and an aging population, requiring new ways to bolster the funds' value, Tang said.

China is stepping up efforts in the manufacturing sector to boost productivity and economic growth, spurred by forward-thinking companies vying for top spots and aiming to create new momentum in key markets.

China is ready to work with Cuba to innovate in the way their exchanges and cooperation are conducted, a senior leader in the Communist Party of China said on Wednesday.

China hopes to combine its advantage in talent resources with advanced technologies overseas, and make good use of the internet platform, to promote technological progress that the world can share and benefit from, Li said.