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Businesses in China are investing heavily in innovation, with a majority of the respondents expecting their company will or might introduce a totally new product, service or process this year, up 10 percent from the same period in 2017.

Both sides agreed to use the exchange mechanism to make plans for cooperation between the legislative bodies of the two countries, promote cooperation under local, bilateral and multilateral mechanisms, and enhance economic and trade cooperation as well as people-to-people exchanges.

Business-to-business transactions reached 9.8 trillion yuan, online retail sales were at 3.1 trillion yuan, and e-commerce trading for life services was about 0.45 trillion yuan.

Bringing people together from different countries is no easy task, but one Australian native has made it her life's mission. Jocelyn Chey worked for more than 20 years on Australia-China relations in the Australian Department of Trade and Foreign Affairs, and she continues to speak about the importance of cultural interactions even after her retirement.

Both sides should also take the opportunity of the 75th anniversary of the founding of the United Nations to firmly support the democratization of international relations and economic globalization, he said.