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On the sidelines of the event, the Chinese delegation presented the newly-released "Building the Belt and Road: Concept, Practice and China's Contribution" report and "Research Report on U.S.-China Economic and Trade Relations," and also had a Q&A session with international media.

In the context, the success of China's Belt and Road Initiative is certain, and will contribute to the promotion of peaceful coexistence among peoples and subsequently to the consolidation of peace worldwide, Pavlopoulos said.

The industrial sector, which accounts for about one-third of China's GDP, started to pick up last year after profit declines in 2015, helped by government efforts to cut overcapacity and a recovery in the property sector.

He said Xinhua News Agency is willing to maintain good exchanges and cooperation with Philippine media outlets, including the Philippine News Agency, to contribute to the development of a good-neighborly relationship .

Echoing his words, Carol Liao, greater China president at Boston Consulting Group (BCG), believes the China is providing global companies with rare opportunities. "It has the world's largest consumer market only after the United States and tops the globe in many subdivided markets, including smart phones, bike-sharing and automobiles."