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China is more than capable of stabilizing its foreign trade and promoting the high-quality development of imports and exports in the second half of this year, officials and experts said on Tuesday.

China is expected to have a closer relationship with the global market, as carmakers are making the country a production base for exports, said a senior BMW executive.

China has set the aim of becoming an "innovation nation" by 2020, an international leader in innovation by 2030, and a world powerhouse in scientific and technological innovation by 2050.

China is the biggest import source and second largest export destination for Russia's Far Eastern Federal District and Chinese enterprises have invested in 26 projects in this region so far.

China is one of the fastest growing markets in wine consumption and ranks fifth in the world after the United States, France, Italy and Germany, according to media reports citing data from the International Organization of Vine and Wine. China's wine market has huge potential to grow as the country's per capita wine consumption was only around 0.6 liters in 2019, compared with 10.1 liters in the US.