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"China's exports saw challenges with the rise of trade protectionism," Ren added. "The economy also felt the pinch from a tightening of liquidity conditions during financial deleveraging. While this has reduced credit risk, it has also increased financing difficulties for private enterprises."

"Companies can save money and improve their production efficiency by starting to build their industrial internet platforms at the dawn of 5G commercialization," said Li Ying, an inspector in the ministry's department of informatization and software services.

"China's SOEs development is steadily improving, with better quality and efficiency," said Wang Wenbin, deputy head of SASAC.

"China's accession into the WTO has been absolutely decisive," Chambovey told reporters at the WTO session on China's trade policy. He said the 2001 move has not only accelerated China's economic and social development but its expanding global trade also has benefited the rest of the world.

"China will keep opening-up and facilitate trade and investment," Gao added. The ministry is currently conducting careful evaluation on the report.