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China has signed approximately 50 government-level cooperation agreements with these economies and established 56 economic and trade cooperation zones, Shen added.

China is set to return as a major cotton importer, taking 10 million to 15 million bales (2 million to 3 million tons) a year by 2019/20, compared with 5 million bales this year, according to Tim Bourgois, head of the cotton platform at Louis Dreyfus Company.

China is expected to establish a convenient, efficient and equitable modern public legal service system that covers both urban and rural areas by 2022, according to a newly issued document.

China has taken the global lead in the number of applications for patents, trademarks and industrial designs for many years. But it has recently attached greater importance to more efficient and high-quality IP development.

China is already regarded the leader in rolling out 5G applications. The nation is forecast to invest 4 billion in 5G by 2025, according to a report released by the Global System for Mobile Communications Association, which represents the interests of more than 750 mobile operators worldwide.