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Geng said that the China-related cooperation projects only accounted for a very small part of the debt of the related countries and regions, and no country has fallen into the so-called "debt trap" because of its cooperation with China.

Yang, also director of the Office of the Foreign Affairs Commission of the CPC Central Committee, said China and the ROK are close neighbors, friends and partners, and their bilateral relations enjoy a long history and also potential for future development.

Furthermore, China vows to create a business environment in which the value of knowledge is respected, with Xi promising to protect legitimate rights and interests of foreign owners of intellectual property rights, and prohibit the forced transfer of technology.

He said China encourages the development of new technologies and new industrial models and makes efforts to create space for innovation.

Noting China has been closely following the relevant developments, Lu said the communication market and international cooperation will be seriously affected when it forces enterprises to install "backdoors" by legislation, which builds its own security and interests on the basis of violating other countries' security and the privacy of their citizens.