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To ensure smooth implementation of the initiatives, Xi announced, China will offer 60 billion U.S. dollars of funding support, including 5 billion dollars of free aid and interest-free loans, 35 billion dollars of preferential loans and export credit on more favorable terms, 5 billion dollars of additional capital for the China-Africa Development Fund and the Special Loan for the Development of African SMEs each, and a China-Africa production capacity cooperation fund with the initial capital of 10 billion dollars.

China will, as always, support Zimbabwe in safeguarding its interests in sovereignty, security and development, and playing a bigger role in international and regional affairs, he added.

The Belt and Road initiative is a fantastic idea and an acknowledgement of China's important role in the Asia-Pacific region, said Juan Francisco Raffo, chairman of the APEC Business Advisory Council (ABAC).

Recalling that APEC leaders made a historic step in 2014 in Beijing by launching the FTAAP process, he called for concerted efforts to boost the openness of the Asia-Pacific economy and safeguard multilateral trade systems.

Chinese President Xi Jinping paid a state visit to Britain last month. During his visit, the two countries upgraded ties to "a global comprehensive strategic partnership for the 21st century" and agreed that the visit heralded a new era in China-UK relations.