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China reported faster-than-expected 6.9 percent GDP growth in the first half of the year, setting the country on course to comfortably meet its 2017 target of about 6.5 percent.

China will aim to improve its innovation system with focus on the research and development of new materials, intelligent manufacturing and robots.

China should have an expansionary and much stronger fiscal policy in order to increase public spending and prevent a further slowing of economic growth, said Yu Yongding, a senior economist at the Chinese Academy of Social Sciences. Yu spoke at a recent forum.

China lagged behind other countries in building 4G and 3G networks. But with 5G, it is racing ahead in research and development, as well as trial applications, said Wang Zhiqin, vice-president of the China Academy of Information and Communications Technology.

China remains the world's largest e-commerce market with online sales in the first quarter of this year reaching 7.4 billion, up 35.4 percent year-on-year.