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As both economies are proficient in exporting goods and providing services, China and Spain have been strong supporters of the multilateral trade system and investment growth and oppose trade protectionism, said Yu Jianlong, secretary-general of the China Chamber of International Commerce.

As a representative of the new economy, the listing of Meituan Dianping indicates a new listing rounds for new economic enterprises. Many new economic companies such as eBooking and Tencent Music are expected to list in Hong Kong or the United States in the upcoming months, the report said.

As a result, the commercial and trade business sectors of Greenland Holdings Corporation Ltd, the parent company of the trading hub, soared 91 percent year-on-year to top 6.7 billion yuan in 2019.

As for the twin ports of Los Angeles and Long Beach, they saw an increase in traffic this year, Gaurav Purohit, a Moody's analyst, told the Bond Buyer. But he said steel represents less than 2 percent of the revenues at those ports, so less impact is anticipated from the steel tariffs.

As for third-party market cooperation, China and Singapore signed a document in April, said Ning at the Singapore-China BRI Investment Forum, adding that it would benefit regional economic development, as well as the open global economy.