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"China has made positive progress in economic restructuring, transition of growth drivers, and the battle against major financial risks," said Zhao Huan, president of Agricultural Bank of China, at a news conference on Tuesday.

"China is really transforming itself. China's growth over the last 50 years was one model of development, providing the world with lowcost goods," Hejazi said. "In the next 10 to 20 years, China must transform into an innovation-based economy, and there's a lot of potential there for Canadian companies.

"China is one of the world's largest countries. It gives much room for the segment to grow, as internet tools will help students across the nation improve their studies," he said.

"China has one of the world's most abundant resources in application and in smart car networking, and we can do much more and much better in smart car making," He said. "We have accumulated experience, and we will invest more in research and development in this regard in the future."

"China is willing to provide all the assistance we can for the Philippines' disaster relief work, and we believe that people in the storm-hit areas can overcome difficulties and rebuild their hometown under the leadership of the Philippine government," Hua said in Beijing.