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Sha also visited a hospital in downtown Taipei on Monday so as to boost exchange on medical service and health care. He said one of the main assignments of the visit is to learn of the Taipei's experience in this regard.

During a Sunday session of what is known as the Business 20 (B20) Summit, Australian Prime Minister Malcolm Turnbull pointed to the rise of populist calls in many nations for protectionist measures, acknowledging that restoring public trust in trade is "a very significant political challenge for us all."

"In comparison, the Belt and Road Initiative upholds the Five Principles of Peaceful Coexistence: mutual respect for each other's sovereignty and territorial integrity, mutual nonaggression, mutual noninterference in each other's internal affairs, equality and mutual benefit, and peaceful coexistence," he said.

"Overall, we are impressed by the broad range of reforms and change that is occurring in China. Over the last 12 months, the authorities have made vital progress in key areas, including the extending of VAT, the passing of a new budget law, the improving of rural land rights and the reform of the pension system," said Daniel.

However, cooperation in economy and trade should be built on the basis of mutual political trust among the three parties.