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In the economic sphere, Egypt needs China's experience particularly in the IT industry, while China eyes new markets in Africa via Egypt, he said.

The founding of the AIIB proves once again that whenever there is a will, there will be a way. We are confident that when faced with the task of advancing world peace and development, so long as the international community has the will for consensus building and for win-win progress, we will be able to not only draw the big plan, but also turn it into reality.

"If the SCO demonstrates that the level of cooperation between its members is sufficiently high, those who nourish plans of aggressive terrorism in Central Asia will have to think twice as they will face not a state alone but a combined power of the SCO partners," the expert said.

Before the new bill, China did not have a specialized counter-terrorism law, though related provisions feature in various NPC Standing Committee decisions, as well as the Criminal Law, Criminal Procedure Law and Emergency Response Law.

"Our target projects must be financially, environmentally and socially sustainable," Jin said.