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Chinese brands are beefing up their presence on the global stage with an increasing number of national brands reaching world-class levels, top officials said Friday.

Chinese electric automaker BYD established its North American headquarters in Los Angeles in 2011. [Photo/IC]

Chinese netizens expressed furor over the incident that occurred on Sunday evening. By Tuesday afternoon the hashtag "United forcibly removes passenger from plane" was the most popular topic on Weibo, China's equivalent of Twitter. It received more than 480 million views and more than 200,000 comments.

Chinese researcher Tian also expected competition in some areas between China and Spain since the two are less economically complementary due to similar industrial structures. However, "the Belt and Road Initiative can help turn competition into opportunities for cooperation if they explore new models of collaboration," he said.

Chinese e-commerce giant JD announced on Wednesday it will invest more than 6 billion yuan (9 million) in Central China's Hubei province within the next three years, in a bid to help boost the economic recovery and development of local small and medium-sized enterprises through its capacities in the supply chain, logistics and technology.