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China has recently vowed to establish a "dual circulation" development pattern, in which domestic and foreign markets complement and reinforce each another, with the domestic market as the mainstay, aiming to build up resilience with better domestic development and wider opening up against headwinds in the external environment. The country's enormous market is pivotal to this development pattern, with the booming "holiday economy" being a manifestation of the strategy.

China is seeing a strong economic rebound following a slump spurred by coronavirus lockdown, but don't count on that being the case for other major economies around the world, IMA Asia's Richard Martin was quoted as saying in a CNBC story by Eustance Huang on June 1.

China imported 419.6 million metric tons of crude oil last year, surpassing the United States to become the world's No 1 importer. Imports are expected to make up more than 70 percent of China's crude oil supply in 2018 amid sound economic growth, and all crude exporters are hoping to grab a larger slice of the pie.

China is implementing a national AI development plan that aims to build a 1 trillion yuan (1.1 billion) AI core industry by 2030, which is supposed to stimulate as much as 10 trillion yuan in related businesses.

China has pursued direct currency transactions with 23 countries, including eight countries along the initiative's route, which have effectively reduced exchange rate fluctuation risks and helped facilitate regional trade and investment.