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China's consumer inflation eased to a 14-month low in May due to the resumption of production and transportation of fresh agricultural products, adequate supply of fresh vegetables and the improving pig production.

China's economy started strongly in 2017. Gross domestic product grew 6.9 percent in the first quarter, above the full-year target of 6.5 percent and the 6.8-percent growth in the fourth quarter of 2016.

China's economy "remains strong despite the growth slowdown in recent years," said ADB Chief Economist Yasuyuki Sawada, adding that favorable fiscal reforms at the start of the year, particularly on personal income tax and social security, will help alleviate the adverse effects of anticipated weaker wage growth and boost domestic consumption.

China's leading electric vehicle maker BYD is planning to found an independent company to run its battery business, which aims to grasp a larger market share in the battery industry at a predicted time of soaring demand for new energy vehicles.

China's diplomacy focuses on building a community with a shared future for mankind, he said, and countries should live in peace with each other, treat each other equally and consult with each other instead of bowing to decisions made by "just one or two countries".