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China restricted the initial outbreak of coronavirus in Wuhan and continues to tackle any new case aggressively. An outbreak in Beijing over the summer prompted strict local lockdowns, controls on leaving the city and mass testing until it was wiped out. The world's most populous country now records only a handful of cases a day.

China will become an evermore important trade and investment partner for the United Kingdom as the latter prepares to leave the European Union, and the UK is looking forward to the Chinese market continuing to open up, especially in the service sector, said Barbara Woodward, the British ambassador to China.

China will advance reforms to make the capital market better serve the real economy. And the capital market will open wider to foreign investors in a steady way and domestic brokerages will expand business overseas, Jiang said.

China successfully met its target of reducing 45 million tons of steel production capacity and 250 million tons of coal production capacity last year, leading to a price increase of steel and coal products. Meanwhile, the country has managed to reduce commercial housing stock by 23.14 million square meters and lower the overall corporate asset-liability ratio by 0.4 percent. However, the country's overall enterprise leveraging level, or debt-supported social financing to GDP ratio, rose by eight percent, according to the institute's calculations.

China is willing to implement the important consensus reached by the leaders of the two countries, strengthen pragmatic cooperation with Pakistan in various fields and deal with risks and challenges together with Pakistan, according to Xu.