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World trade will grow more slowly than expected in 2016, expanding by just 1.7 percent, well below the April forecast of 2.8 percent, recording the slowest pace of trade growth since the financial crisis of 2009, according to the latest WTO estimates.

"It was the third time that President Xi has set foot in Latin America since 2013, which shows how much attention he pays to the ties between China and Latin America," Wu said.

Magufuli expressed thanks for China's tremendous support and selfless assistance to Tanzania over the years, saying the Tanzania-China friendship is Tanzania's precious treasure.

According to statistics, Chinese military and civilian casualties totaled approximately 35 million, accounting for one-third of the total casualties suffered by all countries during WWII.

In June, Renmin University published a report on the progress of the initiative, chronicling successes in transportation, pipelines and telecommunications infrastructure, trade expansions, as well as financial and cultural cooperation.