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China has kept forex market reform "gradual and controlled," which enabled the implementation of the country's various financial reforms while at the same time keeping external risks at bay, according to Sun.

China has been "cautious "against excessive monetary easing this year to strike a balance between stabilizing the economy and preventing risks, paving the way for sustainable development amid protracted uncertainties, said a senior economist.

China has experienced tremendous changes during the last 40 years and achieved remarkable economic prosperity. The primary achievement is the establishment of a market-oriented business environment. All kinds of professionals and organizations can compete in an impartial environment, inspiring their full potential to innovate. That's the quintessence of a market-oriented economy.

China expects greater development of the ASEAN community, which will contribute more to regional peace, stability and prosperity and better benefit the people of its member countries, Xi said.

China has made a significant breakthrough by achieving self-reliance in core information technologies like databases, after similar breakthroughs in 5G telecom networks and superfast artificial intelligence chips.