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China has also built a total of 21 economic and trade cooperation zones within the territory of the SCO countries, making contributions to expanding local employment and increasing tax incomes.

China has created local AI champions such as Tencent, Baidu, Sensetime, Face++ and Cambricon, said Ludovic Bodin, a French entrepreneur who plans to set up a billion fund to finance AI joint ventures between France and China.

China can intensify international cooperation in agriculture to solve challenges facing its food security, a vice-president of the Chinese Academy of Engineering said on Friday.

China has already adopted a slew of measures to stop the economy from declining, including accelerated spending on infrastructure and multiple cuts to bank reserve requirements.

China has long called on the US to resolve bilateral trade issues through negotiations and vowed to defend its own legitimate interests.