He noted that China had invested over 35 billion U.S. dollars in renewable energy, almost twice as much as that of the U.S..
"China is accelerating in transition of entering a much more mature and balanced state. However, the main challenges will be to move out of the bracket of labor intensive, low cost manufacturing to compete on products with higher value added such as technology, quality, and design," he noted.
He also spoke of the need to stop economic inequality from growing, and to address the challenge of corruption, which "distorts the economy, lowers the growth potential, and deepens inequality," he said.
He expected that China will pursue peace and development even the global challenges are becoming more pronounced, referring to the fact that China has always been a peace-loving country historically.
"I do not think China will challenge the established international order. The Chinese and American economies are highly dependent on each other and have broad common interests... China will contribute building up the peace and stability in the world," said Moeller.
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