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As a significant step in capital market reform, the new stock trading platform is likely to launch in the first half of 2019, boosting innovation and improving market efficiency, they said.

As for business models, the country's big-name tech firms have become a magnet for international professionals.

As both economies are proficient in exporting goods and providing services, China and Spain have been strong supporters of the multilateral trade system and investment growth and oppose trade protectionism, said Yu Jianlong, secretary-general of the China Chamber of International Commerce.

As he said, the document meets interests of all coastal states not only because its positions accurately define their mutual rights and obligations on use of the given reservoir, confidence-building measure and safety in this area of the world as a whole. Lavrov considers that the value of the given international contract also entails that it creates necessary legal conditions for enhancement of cooperation in trade, investment and transport spheres.

As for business tax reform, the framework will reduce corporate tax rate to 20 percent from currently 35 percent. Pass-through businesses, such as sole proprietorships, partnerships and corporations will see their tax rate down to 25 percent.