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Chen suggested increasing yuan-denominated settlements in global commodity trade and accelerating the internationalization of the yuan to reduce reliance on the dollar.

Chen Liren, vice-president of Samsung's content strategy department in China, announced the company's mobile payment tool Samsung Pay now supports Tencent's WeChat Pay and Alibaba's Alipay and will include JD.com Inc's payment tool in the future.

Cheng Xiaohe, an associate professor at the School of International Studies of Renmin University of China, noted that Pyongyang has been stepping up its diplomacy with its neighboring countries since the breakdown of the Hanoi summit－a move he sees as an effort to secure support in its nuclear negotiations with the United States.

Chen Ning, Counselor, Cooperation and Exchange Office at the Chinese Mission to AU, on his part expressed China's continued commitment to supporting Africa's health sector.

Chen said labor costs accounted for 30 percent of the company's expenses, and the subsidies had added to the pressure.