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"It will be beneficial for Germany and Europe if the initiative leads to infrastructural modernization of the region along the Silk Road and makes it a new strategic hinterland for Europe's economic growth," Gu said.

Li said accomplishing goals in nurturing new economic driving forces, developing a new economy and carrying out a supply-side reform among other structural ones require the development of privately-run small- and medium-sized enterprises (SMEs) in China.

The Smederevo steel mill, founded in 1913 and once labeled "the pride of Serbia," is the country's only steel mill. Facing difficulties in its operation, the plant was acquired by China's HeSteel Group for 46 million euros (51.6 million U.S. dollars) in April this year.

Ramos made the remarks during a recent interview on the upcoming G20 summit, set for September in Hangzhou, east China, with Xinhua.

China "rock star of clean energy investment": expert