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Dai Yuexiang, executive director of Hillhouse Capital, an investment management firm, shared a similar view.

Damien Giraud, vice-president of Caterpillar's global construction and infrastructure division, highlighted the fact that the new-generation excavators, which are more energy-efficient, productive and smart, were first released in China, instead of the United States or Europe.

Data from the Ministry of Commerce showed 70 percent of new online shoppers during the "Double 11" shopping spree last year were from less developed areas, making consumers in those regions a target for future consumption growth.

Data show Belt and Road projects may face funding shortages. The Asian Development Bank estimated that some of its members, mostly Belt and Road-related economies, would need .6 trillion in infrastructure investment by 2030, or .5 trillion annually. But no single source of funding could supply that much investment.

Daimler introduced its car2go program into China in 2016 and has decided to pull out this year. [Photo provided to China Daily]