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China and the US have been making concrete progress in carrying out constructive negotiations in the fields of trade, investment and economic policies after the two countries' heads of state met in Florida in early April.

China aims to turn Shenzhen into a showcase of socialism with Chinese characteristics in the next five years by introducing a series of reforms to optimize its business environment, improve its urban infrastructure, attract foreign talent, and further raise its living standards, he noted.

China also has plenty of experience with the many incubator programs in the country's south, Zhang said, adding that the partners' knowledge and experience can be pooled for successful outcomes.

China and the EU both support and uphold multilateralism in addressing global challenges, and through various dialogue mechanisms. They are stepping up cooperation on diagnostics, treatment, pharmaceutical and vaccine development, as well as regular exchanges of information and expertise.

China United Property, one of the country's major non-life insurers, last year recorded an annual premium income growth of 8.8 percent to 422 billion yuan ( billion), fueled primarily by car insurance.