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Thus when China, a time-honored friend of Africa which used to be poor and backward but has now grown into a giant with deep pockets, rich experience and mature technologies, came out with a truly helping hand, many in the West had their eyes glow green.

He encouraged the local government to gear up efforts to participate in the Belt and Road initiatives, and the development of Yangtze River Economic Belt.

The growth target for 2015 was set at "approximately 7 percent," down from 7.5 percent in 2014, when the economy grew 7.4 percent, the lowest pace since 1990.

So far little is known over how the three newly approved FTZs will further Shanghai's experiments. Authorities have also yet to announce dates for their official launch.

During the Beijing APEC summit, Xi announced a fund of 40 billion U.S. dollars for the land-based "Road" infrastructure. "Only when there is a road can people and things flow," he said here.