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China is shifting toward a consumption-driven economy.

China is moving from a quantity-based economy to a quality-based economy, Lisi said. I think we are really just beginning to see the role you are going to play from an innovation perspective."

China is ready to work together with India to strengthen strategic communication, promote strategic mutual trust and broaden pragmatic cooperation in all sectors to become good neighbors, who coexist peacefully, and good friends, who collaborate sincerely to revitalize their countries, in a bid to make important contribution to stability and prosperity in Asia and the world at large, Yang said.

China has proposed a "dual-track approach" to denuclearize the Peninsula and establish a peace mechanism as well as "suspension for suspension", which would defuse the looming crisis there.

China is not yet ready to issue an official digital currency of the nation, nor has it authorized any institute to do so. This is according to China's central bank, which made the statement to address rising digital currency fraud and virtual currency prices.