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China's technological advancement has benefited from the country's reform and opening-up policy, Chinese companies' technology import and foreign companies' technology spillovers. China not only pays for billion fee for technology transfer annually but also contributes huge sales revenue for foreign companies with its ever expanding market, so China's technological advancement is a win-win game for the world economy, Zhang said.

China's total trade with countries along the Belt and Road in the past five years exceeded trillion, with an annual average growth of 1.1 percent, in contrast to falling world trade, according to Qian Keming, vice-minister of commerce.

China's western region continued to be the bright spot of the economy, as the robust first-quarter indicators signaled its remarkable resilience and speedy recovery despite the COVID-19 epidemic, experts said on Wednesday.

China's rate should be at the medium level among developing economies and in line with its status as a developing nation, she said.

China's push to further expand production and consumption of bioethanol this year in order to clean up the environment, while seeking more channels to consume corn and grain stockpiles, has created a huge biofuel market that is tempting global chemical companies.