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The country's share in the world economy could rise to around 16 percent this year, contributing nearly 30 percent to global growth, Han estimates.

-- Two international commercial courts were set up by the Supreme People's Court (SPC).

The benchmark Shanghai Composite Index started the day with a 1.22-percent gain and maintained the upward trend throughout the day to surge 5.6 percent to close at 2,961.28, the highest closing since mid-June 2018.

Appreciating China's long-term vision and strategic thinking in planning national development, the Ethiopian Prime Minister expressed the hope that his country can strengthen exchanges and experience sharing with China. He hoped the two countries will deepen overall friendly cooperation in a mutually beneficial manner in various fields and further promote bilateral trade and investment cooperation.

The trade standoff has had negative impacts on both economies and added much uncertainty to global markets and the world economy.