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China has made great efforts to cut the trade surplus. Focusing on expanding domestic demand, the Chinese government has intensified its economic restructuring via increased public investment and enhanced private investment in many aspects, with the aim to constantly expand its domestic market, said the report.

China has made progress in financial risk control thanks to better regulation last year. Growth in off-balance-sheet businesses saw a continued decline and many banks saw lower bad loan ratios.

China has been promoting efficient, large-scale use of natural gas in the industrial fuel, gas-fired power and transport sectors. Natural gas supplies in the country will exceed 360 billion cu m by 2020, accounting for 10 percent of China's energy production compared with the current 7 percent, according to the National Development and Reform Commission.

China has made great progress in promoting gender equality in the workplace, but discrimination still exists. A report released in May by Zhaopin, an online recruitment platform in Beijing, shows that married women with children are the least desirable demographic in the job recruitment market, and they are much less likely candidates for promotions.

China has experienced rapid economic and social development in the past 40 years. Since opening its doors to the world, China has created a unique model for the development of its market economy and established a dynamic business environment. As the world's second-largest economy, China has played an increasingly important role in the world and made great contributions to global growth.