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China is also aiming to set the agenda on climate change with environmental technology becoming one of its flagship industries, and with the goal set by Xi of achieving a "Beautiful China" by 2035.

China is home to varieties of tea. The country has a tea plantation area of about 44 million mu (2.93 million hectares) and an annual tea output of about 2.6 million metric tons, which accounted for 60 percent and 45 percent of the world's plantation area and tea output, respectively, and ranked first in the world.

China is also about to remove foreign ownership caps on fund management companies and securities firms from April 1,2020 and Dec 1, 2020, respectively, the CSRC said at a news briefing.

China is already a significant market for us and will continue to be important. In particular, we see the potential of stronger partnerships with our local clients who are looking to develop their consumer base both locally and globally.

China is on the way to becoming the largest economy in the world, regardless of how long this takes, he added.