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Chinese President Xi Jinping unveiled new measures for expanding China's reform and opening-up at the Boao Forum for Asia annual conference, which will surely provide great opportunities for development of pragmatic economic and trade cooperation between China and Japan, he added.

Despite being the world's second largest economy, China's per capita GDP in 2016 was only 80 percent of the world average, one-seventh of the United States, and was ranked the 68th globally.

The article said that since the Party's 18th National Congress, the CPC Central Committee with comrade Xi Jinping at the core has given shape to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, making historic achievements and prompting historic changes in the cause of the Party and the country.

In October 2016, The International Monetary Fund included the Chinese currency in its Special Drawing Right (SDR) basket, making the yuan one of the five reserve currencies fully endorsed by the 189-member organization. In January the same year, China had become the third largest member in the organization.

Xi encouraged Chinese people to work hard in the new era, saying happiness can only be earned by filling one's life with endeavors.