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Domestic progress aside, China is also moving closer to the center of the world stage. China hosted the G20 Hangzhou Summit and Beijing APEC economic leaders' meeting, prescribing remedies for global economic governance.

BEIJING, Feb. 16 (Xinhua) -- The Republic of Korea (ROK) has agreed to return more remains of Chinese soldiers killed in the 1950-53 Korean War, the Chinese Foreign Ministry said Thursday.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative, known as the "Belt and Road" initiative, was proposed by China in 2013 with the aim of building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.

As the first step of the "two-track approach," China has come up with the "double suspension" proposal: the DPRK suspends its nuclear and missile development activities, the United States and the Republic of Korea suspend their large-scale military exercises, Wang said.

Woolsey, who is also a former CIA director, has described the Obama administration's opposition to the formation of the Asian Infrastructure Investment Bank (AIIB) as a "strategic mistake."