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China will be the only major economy to achieve growth this year, according to the IMF's latest World Economic Outlook reports. The Organization for Economic Cooperation and Development also noted China is the only G20 country expected to see positive economic output this year.

China is willing to work with ASEAN countries to conclude the negotiations within three years and believes countries within the region have the wisdom to ensure peace and stability in the South China Sea, he said.

China supports the new ROK government's positive efforts toward restarting talks with the Democratic People's Republic of Korea to improve relations, he said, adding that the international community should make joint efforts to play a positive role in easing the current tension.

China will continue a prudent and neutral monetary policy in 2018 as the world's second-largest economy strives to balance growth with risk prevention.

China plans to reduce crude steel output by 100 to 150 million tons by 2020.