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China's urbanization will continue to drive economic growth, as it "gives a lot of potential for investment in infrastructure and potential investment in education," said Keidel, a former senior economist at the World Bank's Beijing office.

China's vision of an interconnected world with enhanced trade supports the African desire for shared prosperity, Kenyan President Uhuru Kenyatta has said.

China's southernmost island province Hainan has announced a plan to attract global investment and talent to advance its development as a pilot international free trade zone. Starting from the end of this month, Hainan will move to implement the plan by first organizing a 100-day investment event to entice overseas investors and talent, according to a government meeting held in Haikou on Tuesday.

Chinese Foreign Ministry spokesman Geng Shuang said that China sincerely hopes the summit will be successful and positive results will be achieved.

China's rare earth industry is on a healthy development track, and the past few years have seen its remarkable progress, but continuous efforts are still required to optimize the industry's structure, and realize high tech-driven development, he said.