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China’s financial support to the UN peacekeeping budget also jumped, from 3 percent of total contributions in 2013 to about 10.2 percent, making China the second-largest funder of peacekeeping operations behind the United States.

China's services sector has contributed to 51.4 percent of GDP, but Liu said that based on the experiences of developed economies, the ratio could further rise by 20 percent in the coming decades.

Chinas' Sinochem Group Co, which has interests in chemicals and other agriculture-related services, has conducted field trials of hybrid wheat varieties and realized on average 24.4 percent increase in crop yields, according to company officials. It is also playing an important role in boosting trade ties under the country's innovative Belt and Road Initiative.

Chinese Foreign Ministry spokesman Geng Shuang said the issue was an "individual, normal trade remedy investigation case".

China's stock markets were closed Thursday when S&P made the announcement, and there was little reaction from the yuan.