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China launches the Chang'e-5 lunar probe from the Wenchang Spacecraft Launch Site in the southern province of Hainan. [Photo/Xinhua]

China said on Thursday that its "unreliable entity list", which seeks to punish firms, organizations or individuals that damage national security, is not targeted at any specific country or company and will be applied in accordance with the rules, according to the Ministry of Commerce.

China is willing to engage in third-party cooperation with Australia based on the needs of the South Pacific island countries, so as to help them achieve the 2030 Sustainable Development Goals (SDGs) as soon as possible, he said.

China ranks 28th overall, with a score of 72.6, said the report. It also highlights China's innovation capability, which stands at 24th above many advanced economies. China had 33 percent of the world's "unicorns", or private companies valued at over billion, last year, up 21 percent since 2014.

China started developing Pudong in 1993. It now contributes one-third of Shanghai's GDP but houses onefifth of its population. The skyline marked by the high-rises has become a source of pride for the city.