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China is eagerly anticipating the summit and aims to align the Belt and Road Initiative with the African Union's Agenda 2063 and the UN's 2030 Agenda for Sustainable Development as well as the development strategies of African countries to inject fresh impetus for the continent's development, he said.

China is now the world's second-largest insurance market and it still enjoys very strong annual premium growth. Looking ahead, two important factors will help to safeguard well-functioning insurance markets.

China imported 1.069 billion tons of iron ore, 506 million tons of crude oil, 96.56 million tons of natural gas and 88.51 million tons of soybean, up by 0.5 percent, 9.5 percent, 6.9 percent and 0.5 percent, respectively.

China holds one-third of the world's coal reserves and this accounts for around 70 percent of the nation's basic energy needs.

China is the second-largest market for pharmaceutical products in the world. Annual revenues of the pharmaceutical industry in China exceed 2.5 trillion yuan (8.6 billion), and annual exports of pharmaceutical products exceed 13.5 billion yuan, Wu said.