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China announced plans in 2017 to establish the Xiongan New Area, located about 100 km southwest of Beijing. It is a key move in pushing the coordinated development of the Beijing-Tianjin-Hebei region.

Stating China's technology sector is one of the largest in the world, he said the country has a very important role to play in global digital cooperation.

Investment between the two countries is also burgeoning. Thai companies were among the first foreign firms to invest in China at the dawn of China's opening-up, while China is becoming a major source of investment to Thailand in recent years.

Prof. Hans Hendrischke from the University of Sydney Business School, said that, through its integration in the multilateral trade system, China's economy has achieved substantial growth, and China, as a beneficiary of globalization, is striving to safeguard this system to prevent its further erosion.

China has deepened reform in all areas and promoted wider opening up since the implementation of the 13th Five-Year Plan and fulfilled the goals listed in the plan on schedule, he said.