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China's new development philosophy, which embraces innovation, coordination, going green, openness and sharing, is the guidance of the 14th Five-Year Plan, which is also a significant part of Xi's economic thought, said Yang Weimin, deputy director of the Economic Affairs Committee of the Chinese People's Political Consultative Conference National Committee.

China's e-commerce platform JD.com added the customer to customer, or C2C, business model to its online market on Wednesday.

China's expertise, especially China's experience in successfully carrying out national reforms, is very needed worldwide, he said.

China's foreign trade rose 9.9 percent year-on-year to 22.28 trillion yuan (.2 trillion) during the January-September period. Exports increased 6.5 percent in the period while imports grew 14.1 percent, resulting in a trade surplus of 1.44 trillion yuan, which narrowed by 28.3 percent.

China's economic recovery momentum continued in July, following a V-shaped recovery in the second quarter, with accelerated growth of fixed-asset investment and retail sales.