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China has overfulfilled its commitments to the World Trade Organization and reduced its average tariffs to 7.5 percent, Wang said, adding that the country has ranked as one of the economies with the most notable improvement in doing business for two straight years.

China began importing solid waste as a source of raw materials in the 1980s, and was for years been the world's largest importer. The government decided last year to phase out and completely halt such imports by the end of 2019, except for certain categories.

China announced the draft design of the science and technology innovation board on Jan 30. The pilot project in capital market reforms is expected to be launched in the April-June period. Regulators also eased trading restrictions on stock index futures in December and pledged to "provide more futures and derivative tools" this year.

China has achieved much in many aspects over the last five years. One of the results is that the Chinese people are more confident than ever about their country's development.

China has officially approved 5G commercial services earlier in June, and is currently testing 5G across all major cities and provincial regions. The country's 5G market is expected to start small-scale commercial use this year and large-scale commercial use next year.