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Both the US and China used extensive monetary and fiscal stimulus to recover from the crisis. Europe's recovery was much slower, because its nations were not able to coordinate fiscal policy and because the European Central Bank adopted a restrictive monetary policy.

Both sides will give priority to develop China-Pakistan relations, continue to support each other’s core and major interests, and promote building a close community with a shared future, he added.

Business awards linking China with Scotland will be presented at this year's Chinese Burns Supper, in celebration of the growing relationship between the two countries.

British legal firm Linklaters has given legal advice to more than 40 Belt and Road deals while Herbert Smith Freehills has advised Belt and Road projects in more than 30 countries.

Businesses and regular people are disproportionately affected by trade disputes, a Chinese envoy said at a national meeting on Wednesday.