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China's economy has become more dynamic and resilient over the past few years, fostered by supply-side structural reform. We have seen major changes in the consumption and manufacturing sectors with evolving patterns and steady expansion. For instance, more than 400 million of China's population are in middle-income groups, seeking a broader range of dietary options and showing a growing concern for the quality and safety of food, domestic appliances and daily items.

China's financial opening up can be seen as part of the country's efforts to honor its commitments to the World Trade Organization, as well as a move that enables it to integrate with global markets, Lin said, adding that the pace was quicker than expected and the progress was "universally recognized."

China's consumer price index, a main gauge of inflation, grew 2.5 percent year-on-year in June, with the increase mainly driven by rising food prices, the National Bureau of Statistics said on Thursday.

China's opening up offers mutual benefits to the world. In 2018, China's GDP accounted for 16 percent of the world's total, but its contribution to world economic growth remained at nearly 30 percent.

China's elderly care services have seen "notable progress" after a nationwide inspection last year in which more than 40,000 nursing homes were requested to "make improvements", the minister of civil affairs said on Thursday.