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Pandor said South Africa and the whole African continent, as China's partners for jointly resisting unilateralism and bullying practice, would stand together with China in safeguarding multilateralism and an open, inclusive global trade system.

With a huge market, abundant human resources, a complete industrial cluster and prospering new engines, the economy has sufficient resilience, potential and room for manoeuver, while its long-term positive trend remains unchanged, according to the Chinese premier.

The event was preceded by a financial forum involving key public and private stakeholders from both countries, with different panels of experts addressing topics ranging from world macro economics to global finance, from banking and insurance to investment.

The decision to establish the list is made in line with international practice with the aim to safeguard the fair and reasonable international economic and trade order, and the rule-based multilateral trading system, said Wang Hejun, director of the treaty and law department with the Ministry of Commerce.

German pharmaceutical company Bayer said in its quarterly report that pharmaceuticals have registered an encouraging sales growth of 5.3 percent to over 4.3 billion euros (4.8 billion dollars) in the first quarter of 2019, "with business in China developing particularly well."