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China, for example, "did not follow the Washington Consensus, but fervently believed that job creation was the solution to ending poverty. This saw the country move away from aid and invest in industrialization," says Hai.

China's property developers are pulling out all the stops to meet their sales target in a sluggish market, and the latest trend among them was to offer hefty discounts during the Singles Day online shopping spree on Nov 11.

China's value-added industrial output declined 8.4 percent year-on-year in the first quarter as industrial production was seriously affected by the novel coronavirus outbreak, according to data from the National Bureau of Statistics.

China's share of global-merchandise trade jumped from 13.6 percent in the last quarter of 2019 to 17.2 percent in the second quarter this year following the pandemic, the Wall Street Journal reported on Sunday, citing data from Oxford Economics.

China's participation in Yamal is in accordance with Chinese companies' going global strategy, she said.