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At present, consumption in China contributes to 36 percent of overall GDP, while the figure is 63 percent in the United States, which means a lot of potential to grow. However, retailing in China takes up 44 percent of GDP, which is higher than the United States. Therefore, despite the big potential of consumption to grow, it is not necessary for retail to grow at the same time, Pei said.

At the 2018 Beijing Summit of the Forum on China-Africa Cooperation in September, Xi announced eight major initiatives to enhance cooperation with African nations, in such fields as industrial promotion, infrastructure connectivity, trade facilitation and green development.

At the opening ceremony on Friday, Yu Peng, minister counsellor of cultural affairs with the Chinese embassy in London, said that the?Amazing China?exhibit showcased "the achievement of the restoration of Chinese traditional craftsmanship".

Atlantic routes play a major role in global shipping as about three-fifths of global ports are scattered along the Atlantic Ocean, accounting for two-thirds of the international trade and for three-fifths of the throughput, said Chen.

At the summit, they confirmed a common goal of the complete denuclearization of the Korean Peninsula, and agreed to have multilateral talks, including China and the US, to declare an end to the Korean War and change the current armistice agreement into a peace treaty by the end of this year.