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Wang said China was still "a follower in technological innovation," with businesses inadequate in research and development. "Eighty percent of core technology, most of high-end equipment, and core components are reliant on imports."

The ambassador expects to achieve more tangible results for bilateral cooperations in the future, wishing a prosperous and happy Chinese New Year to all at present.

MUNICH, Feb. 19 (Xinhua) -- China has called for lasting peace and common security for all while reiterating the notion of building a community of shared future for mankind at the just concluded 54th Munich Security Conference in southern Germany.

The Communist Party of China (CPC) has incorporated "Beautiful China" into its two-stage development plan for the building of a great modern socialist country, according to the report delivered at the 19th CPC National Congress in October.

Faced with new requirements for various tasks in the new era, the current structure and functions of Party and state institutions are not completely suitable for implementing the five-sphere integrated plan and the four-pronged comprehensive strategy, nor for modernizing China's system and capacity for governance, it said.