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Analyzing the root causes of the sluggish global economy and the problems for which globalization has been made the scapegoat, Xi pointed to a lack of robust driving forces for global growth, inadequate global economic governance, and uneven global development, Wang said.

Anhui Jianghuai Automobile Co, also known as JAC Motor, launched its first model of multi-purpose vehicles (MPV) for family use on Monday.

Analysts said China is now transforming from the phase of rapid development to a new stage of high-quality development and shifting its focus to nurturing technological innovation and further opening up its economy.

Analysts see the upward trend continuing. Another market research company Gartner predicted that worldwide shipments of wearable devices will reach 225 million in 2019, up 25.8 percent from the figure in 2018 and driven chiefly by markets including China.

An online event was also held by Longyuan South Africa Renewables of China Longyuan Power Group Corp, a subsidiary of China Energy Investment Corporation (China Energy), to demonstrate how Chinese SOEs fulfill their responsibilities in overseas markets.