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China has become the number one market for US travel and tourism exports and is its largest market in terms of spending. Last year, almost three million Chinese nationals visited the US - a 15.5 percent year-on-year growth - and spent billion on tourism expenses.

China expects India to honor historical treaties and agreements as well as the basic principles of international law, she added.

China has injected 16.17 trillion yuan (.39 trillion) in new yuan loans in the past year to stabilize growth. There is room to improve the monetary transmission mechanism to spur lending to smaller firms, Zhu said.

China expanded its FTZ pilot program in a move to press ahead with reform and opening-up of the country's economy.

China decided in 2018 to phase out the equity cap in the automotive industry. In the same year, BMW became the first international carmaker to acquire a majority stake in its car-making joint venture.