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China and Europe should also firmly move forward the steady and long-term development of bilateral relations to inject more stability and positive energy into international society on the basis of equal treatment and win-win cooperation, he said.

China and the United States are leading the fourth industrial revolution brought by artificial intelligence, which has shown huge growth potential and created value for traditional industries, said Kaifu-Lee, chairman and CEO of Sinovation Ventures, a leading venture capital firm at the China Development Forum Special Session in Beijing.

China announced in April that it would increase quotas for two pilot schemes that allow domestic investors to access foreign assets, as part of its broader efforts to open up the financial market.

China and ASEAN countries will seize the opportunity, broaden cooperation, prevent interference and overcome challenges, and speed up the consultation and explore a cooperation mechanism with coastal countries for the peace and cooperation in the South China Sea, he said.

China and Russia will hold their second joint computer-assisted anti-missile drill next month, a move experts said could counteract the missile interceptor system installed by the United States and the Republic of Korea on the Korean Peninsula.