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The G20 groups the world's major economies whose combined GDP accounts for over 85 percent of the world's total.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at a meeting of the national leading group on science and technology, which he heads.

By rolling out such platforms as the Belt and Road Initiative and the China International Import Expo, honoring its commitment to tackling climate change, and fully implementing the Debt Service Suspension Initiative, China has clearly demonstrated its dedication to the vision.

"We must monitor the complexity and spill-out effect of their business risks, defuse risks timely and forestall new, hidden troubles brewing systemic risks," he said.

Ong Tee Keat, founding chairman of the Center for New Inclusive Asia, a think tank based in Kuala Lumpur, said he expects China's new development paradigm to bring in a new round of opening-up, providing greater opportunities and room for post-pandemic global economic recovery and development.