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China will focus on improving the quality and structure of its industrial capacity in 2018, the National Development and Reform Commission said at its annual work conference on Friday.

China's Internet giant Tencent is betting on the country's smart transportation market. [Photo/IC]

China will work to uphold and improve its basic socialist economic system and promote the high-quality development of the economy, said the milestone document adopted at the fourth plenary session of the 19th Communist Party of China Central Committee.

China will need 1,070 regional jets with 70 to 130 seats over the next 20 years, making it the third-largest regional aviation market after the United States and Europe, according to the latest report released on Tuesday by Brazil-based aircraft manufacturer Embraer SA.

China will remove policy barriers for cross-border payments and enhance financial infrastructural construction in foreign countries as part of efforts to further promote internationalization of the yuan, the vice-governor of the country's central bank said Sunday.