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Chinese researcher Tian also expected competition in some areas between China and Spain since the two are less economically complementary due to similar industrial structures. However, "the Belt and Road Initiative can help turn competition into opportunities for cooperation if they explore new models of collaboration," he said.

Chinese consumers, led by middle-income earners, are more open to new products, especially digital ones, he noted.

Chinese e-commerce giant Alibaba said over 15 million types of goods from 140,000 brands will be available through its Tmall shopping platform. The company said luxury brands, retail giants from the United States and Australia, and millions of Chinese retailers will join the promotion this year.

Chinese experts said Feltman's visit is "necessary and constructive" to ease heightening tensions on the peninsula, and it will help magnify the UN's role in resolving the peninsula's nuclear issue as an international organization.

Chinese dairy giant Inner Mongolia Yili Industrial Group, in collaboration with China Daily website, has unveiled milk products with limited-edition packaging on the eve of the 70th anniversary of the founding of the People's Republic of China.