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China has already slashed tariffs on imported vehicles from 25 percent to 15 percent and Xu expects the government to further cut this figure in the coming years.

China granted licenses for commercial use of the new-generation wireless technology on June 6. In July, 72,000 units of 5G smartphones were shipped in the country, data from the China Academy of Information and Communications Technology showed.

China has demonstrated its role as a responsible major country through upholding win-win cooperation in the face of rising challenges from protectionism and unilateralism, Wang said

China can offset headwinds to global trade to some degree by pursuing its policy of reform and opening up more aggressively, said Martin Wolf, chief economics commentator for the Financial Times. "That will help China and the rest of the world."

China encouraged its own businesses to invest in Trinidad and Tobago on the basis of respecting market rules, Li said. China is willing to help the country within its capacity to develop its economy and improve people's livelihood.