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"China is now a big continental economy, and even within China itself the stimulation of domestic consumption and the continual upgrading of many aspects－infrastructure, environment, as well as better provision of healthcare, housing, education－all these will be major drivers of growth for China in the years ahead," he told Xinhua News Agency.

"By closely examining these criteria and measures, we can turn the slogan into science and science into concrete, practical actions," he said, adding China will need more data and quantitative analysis, especially at the local level, to accurately assess the results of modernization.

"China Media Group and the community hope to engage more people and create a bright future for global media," he said.

"CASME used to be a grassroots association seldom participating in international activities. However, since the first half of last year, especially since May this year when the Belt and Road Forum for International Cooperation was held, more associations like CASME in countries such as United States, Russia and Singapore have contacted us for cooperation," said Ren Xinglei, senior vice-chairman of CASME, in Beijing Thursday.

"By threatening to impose a 10 percent tariff on an additional 0 billion of imports from China, the US President Trump has upped the ante on the trade conflict between the two," Oxford Economics said in a research briefing.