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China will launch promotional and educational activities across the country this year to celebrate the 40th anniversary of reform and opening-up.

China's approach to address major risks, poverty and pollution, "could set a global standard for using the major challenges of our time as drivers for innovation", said Dennis Pamlin, senior adviser at the Research Institutes of Sweden. "With this new initiative, China could actually shift the global innovation focus."

China will strengthen its protection and management of intellectual property, accelerate the commercialization process, and help improve global IP protection practices and standards, officials said on Tuesday.

China's Navy is holding a 10-day joint naval exercise with Thailand and Malaysia, which began on Saturday, called Peace and Friendship-2018, in waters off Port Dickson and Port Klang, Malaysia. It is the second time since 2015 that the PLA Navy holds drills in the Strait of Malacca, one of the busiest shipping waterways linking the Pacific and Indian oceans.

China's Ministry of Commerce stressed on Thursday that the nation is willing to expand imports from the US if they can meet "halfway" in trade negotiations.