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China has set 2020 as the target to complete the building of a moderately prosperous society, which requires the eradication of poverty.

China is pursuing an open strategy of mutual benefit and win-win result to promote the construction of the Belt and Road Initiative, Jiang said.

China has said the current international system is like a well-designed building with multilateralism being its cornerstone. The need is not to build another structure but to renovate the existing one to better reflect the new reality and meet countries' needs.

China is aiming to establish a set of free trade port policies focusing on trade and investment facilitation across Hainan by 2025, building an economy with a new level of openness by 2035 and a high-level free trade port of global influence by the middle of the century.

China is expected to continue playing a stabilizing role for the global economy, with fewer concerns of an economic hard landing and financial risks in the country compared to a year ago, it said.