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China should increase the share of core technology investment in its research and development expenditure, which is only 5 percent, compared with 17 percent in the United States. It is also necessary for China to carry out institutional reforms to promote the transformation of scientific and technological achievements into productive forces, Huang said.

China is willing and able to play a bigger role in Arctic development and cooperation, said Vice-Premier Wang Yang during the Fourth International Arctic Forum, which ended in Arkhangelsk, Russia, on Thursday.

China received 170.1 billion yuan (.1 billion) of charitable donations from home and abroad last year, according to a report released by the China Charity Alliance. The report, published Saturday by the alliance at the ongoing 8th China Charity Fair in Shenzhen, Guangdong province, said 109.2 billion yuan of the donations went to the fields of education, poverty alleviation and healthcare. The report said cash donations hit a record high of 104.4 billion yuan last year, up 3.64 percent year-on-year and accounting for nearly 70 percent of the total value of donations.

China lagged behind some other countries in issuing 4G and 3G licenses. But in 5G, the nation has played a crucial role in partnering with other countries to finalize global standards.

China still has sufficient monetary policy space and tools and is the only country that still leverages conventional monetary policy, said Ma. "The PBOC has not yet used up all of its bullets at the same time."