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Chinese tech companies are scrambling to develop operating systems for smart TVs and beyond as they work hard to build their own core capabilities in the internet of things era.

Citi China's wealth management products which are invested in offshore markets through the Qualified Domestic Institutional Investor program offered an average return of 16 percent in 2017. So far this year, Citi China's best performing QDII fund has offered returns of more than 30 percent, according to Xu.

Chipmakers, which depend on China for a large portion of their revenue, also slipped, with Intel down 1.7 percent.

Citing the recent tie-up between Felda Global Ventures (FGV), Malaysia's leading global agribusiness and the world's largest crude palm oil producer, and China's Sinograin Oils Corp as a good achievement, Mah said he expected the momentum to continue.

Christopher Bovis, a professor of international business law at the University of Hull in the United Kingdom, praised Xi’s emphasis on China following a “five-no” approach in its relations with Africa. “The ‘five-no’ approach in China-Africa relations represents best practice standards in international relations and trade law.”