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China plays a leading role in the development of fintech, robotics and artificial intelligence, and is a "pacesetter" for digital commerce, outweighing other countries in terms of online retailing and payments, Lipton said.

China vowed that it would further promote EVs and the construction of charging piles to accelerate consumption demand and facilitate industrial upgrading, according to the Government Work Report submitted to the national legislature for deliberation in late May.

China set up the Belt and Road Initiative to exert influence and make new alliances with countries initially in Asia. But now the initiative is open to all the countries of the world — a world of closer cooperation with China.

China will continue to open up its economy and be committed to ushering in more international companies to participate in the nation's high-quality development, contributing to the building of a new development pattern featuring both domestic and international cycles, said Liang, who is also dean of the Hainan University Belt and Road Research Institute.

China will also help to construct an industrial park covering 300 hectares in its first phase, Li said, adding that having signed the memorandum of cooperation, both sides are hoping to sign an agreement by the end of the year to pave the way for ground to be broken next year.