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China witnessed 6.9 percent growth in the second quarter.

China's CPI may register a mild rise of 2.1 percent this year, up from 1.6 percent in 2017, said a research note from securities firm Nomura. "We expect CPI inflation to moderate over the next couple of months as vegetable prices normalize. We do not expect contained inflation to affect Beijing's policy agenda to stimulate domestic demand and investment."

China's achievements in development are admirable, Obama said. Building constructive US-China relations is in line with the interests of the people of both countries, he said, adding that he would like to continue to play a positive role in boosting the nations' mutual understanding and exchanges.

China's campaign to eliminate overcapacity has started to pay dividends and that will contribute a lot to the country's economic improvement, said Erik Lundh, a senior economist at The Conference Board.

China will support logistics development in terms of urban planning and land use, and improve national-level logistics centers and railway services.