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China raised the retail prices of gasoline and diesel for the first time this year from Monday, with gasoline prices going up by 120 yuan () per metric ton and diesel by 110 yuan per ton, the National Development and Reform Commission said.

China offers a reference for other developing countries that are struggling to modernize, as well as for developed countries troubled by inherent problems, said Fang Ning, head of the Institute of Political Science at the academy.

China will also work with the Pacific island country to handle challenges such as climate change and safeguarding the common interests of developing countries, Xi said.

China on Thursday expressed indignation and opposition to a Hong Kong-related bill approved by a United States congressional committee, saying it grossly interfered with China's internal affairs.

China overtook the United States as the world's largest vehicle market in 2009. In the 13th Five-year Plan (2016-20) period, China's car market peaked in 2017 and has since contracted somewhat, but experts believe there is still much growth potential, given the country's large population.