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As the world economic order faces rapid changes, emerging market economies are expected to play a bigger role in world economic growth.

Michele Flournoy, who served as U.S. Undersecretary of Defence for Policy between 2009 to 2012, said that while China has become the main trading partner with much of the rest of Asia, many countries there still see the U.S. as "the ultimate security guarantor." But, she said, the U.S. and China "can still grow together."

The fund will comply with market rules and the international order of finance, welcoming participation by domestic and overseas investors, such as the China-Africa Development Fund and the Asian Infrastructure Investment Bank, Jin said.

In recent years, Asian neighbors have observed the words and deeds by Japan's leaders to cover up wartime history and openly challenge the international order set after WWII.

Proceeding from its national conditions and with an eye on future development, the Chinese government has put forward a "Made in China 2025" strategy to accelerate the shift from a big manufacturing power to a strong manufacturing power, Ma said.