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China has come to the right and appropriate time to move a step forward, mainly supported by relative stable economic fundamentals and better market expectations for the currency, according to Zhang Bin, one of authors of the report.

China calls on all relevant parties to maintain restraint and avoid causing new turbulence in the Middle East, which is already facing numerous challenges, he said.

China expects cars with some autonomous functions to account for half of new vehicles sold by 2020, according to a guideline released by the National Development and Reform Commission in January.

China has actively participated in the global value chain since its reform and opening-up in the late 1970s, achieving rapid economic development through its low costs and export-oriented strategy. However, deficiencies have gradually emerged, such as excessive dependence on foreign trade, risks in economic security, restrictions in key technologies and pressure on industrial upgrading.

China firmly opposes terrorism in all its forms and strongly condemns the terrorist attack in Pakistan, Xi added.