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"California has the 10th largest economy in the world, with a strong global exporting presence, particularly in areas like agriculture and technology" so the state probably didn't want to miss out on the potential economic development prospects associated with BRI, he said.

"China has a vast domestic market, yet it is also deeply integrated into the global economy. There is much pressure on foreign trade. What is important now is that the many policies that have been introduced will be fully delivered in an effort to achieve the goal we set early this year of ensuring the steady growth and improved quality of foreign trade," Li said.

"China is an important economic partner of ASEAN, and at a time when the developed economies are suffering from a sharp downturn, China is the only large source of demand that could still be growing," said Manu Bhaskaran, founding director and CEO of Centennial Asia Advisors, an economic consultancy in Singapore.

"But we need to maximize opportunities and minimize challenges by tackling anti-globalization forces to accelerate growth," he added.

"China is trying to make the globalization process more life-oriented, human-oriented and development-oriented," he said.