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China's commitment to integrating Africa into the Belt and Road Initiative will significantly strengthen sustainable trade and investment relations between the continent and China, a senior South African diplomat said.

China's economy generally maintained steady and sound growth in May, along with supply-side structural reform and innovation-driven development. Economic indicators like supply and demand, employment, consumer price, and profit of enterprises showed positive signs, and the economic development was also more balanced and stable.

China's gross domestic product (GDP) expanded by 3.2 percent year-on-year in the second quarter, following a 6.8 percent contraction in the first quarter, according to newly released data from the National Bureau of Statistics (NBS).

China's local government debt soared during an investment and construction binge following the global financial crisis in 2008. Well aware of the risks, authorities have rolled out a string of measures to reduce the local debt burden.

China's economic fundamentals, he said, are sound and its financial risks are generally controllable. "The Chinese economy has entered a phase of high-quality development, with a stable international balance of payment and generally balanced cross-border capital flow."