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China’s life insurance premiums are forecast to rise by an average of 15 percent per year in real terms from 2018 to 2019, supported by increasing household income and rising risk awareness, a report from Swiss Re showed.

China’s development provides successful experience and offers bright prospects for other developing countries as they strive for modernization, and it represents China’s great contribution to the progress of human civilization, Xi said.

Chinese State Councilor and Foreign Minister Wang Yi (L) meets with South African President Cyril Ramaphosa (R) in Pretoria, South Africa, June 3, 2018. China and South Africa on Sunday agreed to further strengthen bilateral cooperation in face of a complex and changing international landscape. [Photo/Xinhua]

China's steel output is also on the rise. Official data showed China's crude steel output went up 6.4 percent year-on-year to 782 million tons in the first 10 months.

Chinese President Xi Jinping announced on April 13 at a gathering in Haikou celebrating the 30th anniversary of the founding of Hainan province and the Hainan Special Economic Zone that the Communist Party of China Central Committee has decided to support Hainan in developing the whole island into a pilot free trade zone as well as gradually exploring and steadily promoting the establishment of a free trade port with Chinese characteristics.