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"China will enter a new developmental phase and will use new ideas to create new opportunities that can further facilitate a more open dual circulation," he said.

"China should keep deepening reforms and focus on transforming government functions to further bring out market vitality," Li said.

"Companies are facing challenges because most of them lack the core competitiveness. It's a good thing for the market to decide who can survive and who should be kicked out," he said.

"Chinese philanthropists are seeking more profound social influences and values. Last year, 12 out of the 100 largest donors were women; family charity and female charity will become major impetus to push for-ward large donations."

"China, together with the international community, will comprehensively and completely implement relevant resolutions of the Security Council on the DPRK, unswervingly push forward the denuclearization of the peninsula and unswervingly safeguard peace and stability on the peninsula," it added.