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"China lags behind the US in efficiency in much agricultural production," he said. "A proper increase in importation of agricultural products from the US is in the interest of China."

"But this has come at significant cost and, as the second wave in Victoria showed, success can be very fragile."

"China is one of the few major economies in the world that have maintained normal monetary policy and we are still far from using the unconventional tools, such as the zero and sub-zero interest rates," he added. "China has sufficient policy space to support steady economic growth. Equipped with a rich policy toolkit, China is capable of coping with various uncertainties."

"But we need to learn Western medicine at the same time to mix advantages."

"China and ASEAN are biggest trading partner to each other," he told Xinhua in an exclusive interview on Wednesday. "China's further opening up will provide bigger market for the world, especially neighboring countries in this region."