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"China's income growth remains at the same level of mid-income countries and it still has a lot of potential to develop," he told another forum held by the Institute of Economics of the CASS on Friday.

"China, as one of the world's largest IT and industrial markets, has an unrivaled edge in smart manufacturing," Yang added.

"China represents at least 11 percent of global demand (and) is the second-largest market after the US, and it has been the world's fastest-growing market in recent years," he said. "Chinese helium consumers have experienced sharply higher prices and supply allocations, similar to consumers elsewhere in the world."

"China's huge market and domestic demand are like a huge driving gear to bring about the recovery and development of the world economy and bring more opportunities to other countries and the world," he said.

"China's annual gas production will more than double to 340 billion cubic meters in 2040, with shale gas a major contributor, but consumption is foreseen to grow even faster, reaching 600 billion cubic meters," said the China Special Report of the World Energy Outlook 2017.