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China's well-developed production and resources networks and relatively competitive labor costs allow it to produce many items at a fairly low cost, said Huang. Other countries don't have such comparative advantages, he added.

Chinese President Xi Jinping welcomes Ghanaian President Nana Akufo-Addo to attend the Forum on China-Africa Cooperation summit in Beijing, Yang said.

China's total tax revenue in 2017 increased by 10.7 percent year-on-year to 14.4 trillion yuan, according to data from the Ministry of Finance.

China's structural and institutional reform is harder work than the easy path of printing money. But it's the only way to get real growth and avoid the boom-bust cycles that are disastrous over the long term.

Chinese Foreign Ministry spokesman Lu Kang said on Friday that Beijing has repeatedly called upon all related parties to remain rational, exercise restraint and avoid any moves that will escalate tensions