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China needs to reduce people's savings rate from around 25 percent to a lower level by building a sound social safety net, according to Gill.

The Grand Canal is almost 3,200 km long, including the part stretching from Beijing to Hangzhou, capital of east China's Zhejiang Province. It has a history of more than 2,500 years. Over 1,000 km of the canal was recognized as a world heritage site in 2014.

The China-U.S. trade frictions have sent jitters to global capital markets, disrupted multinationals' industrial chains, and weighed upon the economic growth of both countries and the world at large.

Afghanistan stands ready to align its plan of reconstruction and development with the BRI and set up an even closer trade and economic partnership with China, Ghani added.

"China is willing to move faster in dovetailing the Belt and Road Initiative with the Middle Corridor project, steadily promote cooperation on trade, investment, science and technology, energy, infrastructure and major projects and actively seek cooperation in small and medium-sized programs and those that benefit the people, to deliver concrete benefits to more enterprises and the people," the Chinese president said.