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BeiDou aims to rival the GPS of the United States, Russia's GLONASS and the European Union's Galileo as an alternative global satellite navigation system. It intends to cover Belt and Road countries by the end of 2018 and operate globally by around 2020 with a 35-satellite constellation.

Panama will offer convenience to Chinese investment, and build itself into a center for Chinese companies' cooperation with Latin America, Varela added.

The tripartite cooperation has shown tremendous vitality and great potential in the past 15 years, thanks to the joint efforts from the three sides, Wang said.

"To make further financial structural adjustment, China should increase the use of fiscal tools in the money supply instead of only relying on bank credit. Meanwhile, the government should strengthen its ongoing regulatory scrutiny to curb misconduct in the sector," Peng said.

"If we talk about the nuclear issue, it is primarily Pyongyang and Washington, but we will also be ready to contribute to this bilateral dialogue within the framework of the so-called six-party process involving Russia, China, Japan and the Republic of Korea," he added.