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Through advocating the BRI, China has already asserted its leadership role in Eurasia and most of the economic corridors of the BRI run through Eurasia, which will not only bring about physical integration, but more importantly economic integration as well, thus providing regional peace and stability, said Deepak.

Hua reiterated that the current situation on the Korean Peninsula is at a rare historical juncture. The summit between the DPRK and the United States is crucial to denuclearization and lasting peace on the peninsula.

BEIJING, May 16 (Xinhua) -- China will further simplify procedures for setting up foreign-invested enterprises (FIE) to promote high-standard liberalization and facilitation of trade and investment, the State Council decided at an executive meeting chaired by Premier Li Keqiang on Wednesday.

Spokesperson Hua Chunying made the remarks in response to a question regarding the upcoming China visit by a U.S. delegation comprising of high-ranking trade and economic officials.

"We see China CIOs actively reviewing their operating models to organize themselves in a more agile way. They are increasingly having to adapt quickly to changing business needs and are becoming more digital in everything they do and in the way they support," said James O'Callaghan, partner and head of technology enablement and technology consulting at KPMG China, Hong Kong.