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China so far has had three rounds of pilot central SOEs mixed-ownership reform, with some firms, such as the country’s telecom giant China Unicom, having introduced non-State investors. The results of the reform have been broadly positive, Xiao said.

China joined the organization in June 1980 and is ranked 17th in the Global Innovation Index 2018, moving up five positions from last year.

China started to conduct goods inspection for 11 exported medical products including protective clothing, medical disinfectant and infrared thermometers on Friday, the General Administration of Customs unveiled in a notice on Friday.

China recorded an import-export volume of .1 trillion in 2017, and has trading partnerships with 230 countries and regions across the world, Yang noted.

China is willing to enhance high-level guidance with the Italian side, respect each other's major concerns, jointly build the Belt and Road, explore cooperation with third parties, boost cultural exchanges and local-level cooperation, and strengthen popular support for bilateral relations, Xi said.