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Foreign portfolio investment into China reached a record high of 120 billion U.S. dollars last year, as international institutional investors diversified their portfolio investment and China further opened up the bond market and stock market, he said.

As a core area on the Silk Road Economic Belt, Xinjiang has maintained solid growth momentum in foreign trade. Foreign trade volume between Xinjiang and 36 countries and regions along the Belt and Road (B&R) totaled about 291.5 billion yuan (43.5 billion U.S. dollars) in 2018, up 13.5 percent year on year.

"Consumption upgrade has become a new driver of growth for China's home appliance industry," he said.

China and Chile should take joint pursuit of the Belt and Road Initiative (BRI) as an opportunity to align the two countries' development strategies, upgrade the China-Chile Free Trade Zone, and expand cooperation in areas including transportation infrastructure, electricity, agriculture, mining and innovation, he said.

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