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An open world economy and steady global growth cannot be achieved without innovation. As the new round of technological revolution and industrial transformation is gaining momentum, we have seen constant breakthroughs in technology frontiers such as big data, cloud computing, the Internet of Things and artificial intelligence. Sophisticated industrial chain cooperation that defies national borders has become the prevailing trend. China would like to work with all interested partners in Asia and Europe to promote cooperation in scientific and technological innovation and the new economy, including in digital economy, smart cities, intelligent connected vehicles and other areas. Next year, China will hold a high-level dialogue on innovation-driven development. We look forward to your active participation and joint contribution to an open and innovative world.

And it comes at no better time as US President Donald Trump will start his first state visit to China in a few days and misperceptions about China are somewhat rife at the White House as well as in average American households.

Analysts said the US decision to move forward steel and aluminum tariffs against Canada and Mexico could also complicate the talks to renegotiate the North American Free Trade Agreement (NAFTA).

Analysts say the push to make cities smarter is in line with the country's advocacy of high-quality development.

Analysts said this is an encouraging sign of efforts to fix the fragmented regulatory structure and to improve the cohesiveness of financial regulation.