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David De Cremer, co-founder of the center and professor with Cambridge's Judge Business School, told a symposium marking the establishment of the center that the Belt and Road initiative has posed challenges to China's global leadership, which is worth of in-depth studies.

Debt-to-equity swaps are part of China's efforts to deleverage its corporate sector and rein in financial risks.

Dan Coats, the current director, will be leaving office on Aug 15, according to Trump.

Data from the National Bureau of Statistics show that by the end of last year, China was home to 254 million people age 60 or older, accounting for 18 percent of the population.

Daines said the US-China relationship is of vital importance, expressing the willingness to do more work to boost mutual trust and bilateral cooperation.