The conversation with Merkel was productive, Xi told reporters afterward, noting that he had reached many new points of agreement with the German leader on such issues as enhancing political trust, boosting pragmatic cooperation and strengthening collaboration on global affairs.
The country's GDP grew 6.9 percent in 2017. GDP growth data for the first quarter are scheduled to be released on April 17.
The country should also build a strong economic foundation by increasing low-income groups' revenue and consumption through a number of measures, including accelerating reform of the social security system, cutting employment taxes and fees, and advancing reform of the household registration system, Li said.
The contracts signed were in the areas of smart manufacturing, new materials, new energy vehicles, bio-pharmaceuticals and ecological conservation, said Xu Xincheng, deputy director of the city's commerce commission.
The conference was held in Yinchuan, capital of Northwest China's Ningxia Hui autonomous region on Wednesday.
The conference called for efforts to stimulate the vitality of market entities, ease market access, promote fair competition, protect intellectual property rights, build a unified market and create a market-oriented, law-based, and internationalized business environment.
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The country will continue to implement a proactive fiscal policy and prudent monetary policy, according to the annual Central Economic Work Conference.
The country will strengthen its competitiveness in strategic science and technologies and make its industry and supply chains more independent and controllable in 2021, the meeting's statement said.
The consultancy firm predicts that by 2030 annual sales of light vehicles in China, the world's biggest automotive market, could rise over 30 percent from current levels to 35 million units.
The country ranked 17th in terms of the "most innovative economies" in the annual Global Innovation Index released in July by the World Intellectual Property Organization and Cornell University in the United States. Last year, China moved up to second place in terms of international patent applications, with about 51,000 applications submitted.