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China's contribution to the world's economic growth is also significant and it currently leads the global economic growth, he noted.

China's decision in 2017 to further open up its financial sector to foreign investors and to slash tariffs on the imports of a wide range of consumer goods; its holding of the Belt and Road Forum for International Cooperation in Beijing last May; its push for bilateral and multilateral free trade arrangements; and its support for global agreements and organizations such as the Paris climate accord and the United Nations are proof of Xi's pledges at Davos.

China's outbound investment in economies participating in the Belt and Road Initiative climbed to some billion between 2014 and 2017, providing more than 200,000 jobs for local people, according to a former top government official.

China's instant delivery market keeps expanding as a result of "indolence economy" and fast living pace, Wang Xiaoping, associate dean of logistic school at Beijing Wuzi University, told Economic Information Daily.

China's environmental clean-up having big impact