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"China will develop a stronger multi-layered capital market, which includes large stock exchanges, regional equity markets, private funds and venture capital funds, to better support the development of innovative enterprises," he said while highlighting the importance of daring innovation in the banking, insurance and securities sectors.

"China's crude steel production capacity is the largest in the world, but its high-end steel output capacity is inadequate," he said.

"Chinese companies have a lot to do in digital transformation," Zhang Yifan, marketing director of Intel China, said.

"Consumption has been playing a bigger role in China's economic development while the country is undergoing economic restructuring. The trading hub will cater to the demand of increasingly sophisticated Chinese consumers. It is our hope that we can build the trading hub as the ideal venue for companies to launch new products and into a most influential distribution center for imports and exports,"Zhang said.

"China will find other countries, replacing the US, to export goods, and the strategic adjustment is on the right path," he said.