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China is Covestro's biggest single market and Shanghai is home to its largest plant while housing its Asia-Pacific innovation center, said Lei.

China is now Malaysia's top trading partner and the country remains China's biggest import source within the ASEAN bloc. Bilateral trade amounted to .3 billion in 2016, up 44.4 percent year-on-year, data from the Ministry of Commerce show.

China is playing a fundamental role in this area by seeking "mutually beneficial cooperation and shared development with Latin America and the Caribbean through collaboration in new media platforms", said Campbell.

China is opening more industries to foreign investors with the release of new shortened negative lists, as part of the country's effort to spur the coronavirus-hit economy and create more opportunities for foreign investors, said the country's top economic regulator.

China has taken measures to further reduce unnecessary restrictions and improve the policy framework on the cross-border use of the currency, including launching crude oil futures in Shanghai, easing restrictions on QFII and RQFII programs for foreign institutional investors.