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Individual investors can also benefit from the launch as their interests are better protected in exchanges rather than through over-the-counter trading, according to Gu.

"At that time, Hainan was a relatively backward border province with poor infrastructure, and you couldn't even see a traffic light," said Shen Xiaoming, governor of Hainan.

Proposed by China in 2013, the initiative aims to create greater trade, infrastructure and people-to-people links between Asia, Europe, Africa and beyond by reviving and expanding the ancient Silk Road routes.

In his speech, Xi encouraged the Chinese people to continue their hard work in a "new era" following the 19th National Congress of the Communist Party of China (CPC) held in October 2017.

World Bank data show that China contributed 34 percent to world economic growth from 2012 to 2016, more than the United States, European Union and Japan combined.