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China's electric car market, the largest of its kind worldwide, is no short of shooting-to-stardom stories. For instance, the country's largest battery maker, CATL, is merely eight-year-old and it has made onto the supplier list of carmakers from Volkswagen to Toyota and BMW.

China's efforts to build a higher-level open economy with measures to liberalize trade and investment will provide opportunities for countries including Japan, Jiang said.

China's overall debt level rose 2.7 percentage points in 2017 to 250.3 percent of gross domestic product due to the impact from China's supply-side reforms, improving economy and corporate profits, the central bank has said.

China's consumption market is expected to remain stable and grow in the second half of the year, pushed by the country's stable job market and tax cut measures, as well as the new round of reform and opening-up, the Ministry of Commerce said in an online statement.

China's consumer price index, a main gauge of inflation, rose 1.9 percent year-on-year in June, compared with 1.8 percent for May, data from the National Bureau of Statistics showed Tuesday.