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Besides mergers and acquisitions, China has made it clear loss-making "zombie enterprises" in glutted industries that cannot make a turnaround or counteract structural adjustment should be phased out.

Belgium is looking for closer economic ties with China given the upcoming largest-ever business mission which will visit the country as Europe and China make headway in trade relations which would include a possible investment agreement, bucking the headwinds posed by global trade uncertainties.

Ben White, founder and CEO of VC for Africa, a venture capital company based in the Netherlands, says: "We need to see more investments locally coupled with government support for the private sector. These characteristics will catalyze partnerships that would increase the level of confidence of foreign investors."

Besides the border port, as an important hub for Xinjiang's transportation, trade, and logistics, the Urumqi International Land Port Area has also contributed to the e-commerce trade in the region, attracting more than 2,000 enterprises.

Besides, 2.25 million people have been evacuated due to floods, it said.