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As China implements a new development pattern of "dual circulation," where the domestic and foreign markets can boost each other, with the domestic market as the mainstay, China will see the scale of foreign trade continue to expand, according to Han Wenxiu, an official of the Central Committee for Financial and Economic Affairs.

As China's southern gateway, Guangzhou released a three-year action plan in May on its new role as an international exchange center, a heavyweight in the global community, to demonstrate the achievements of China's reform and opening up to the world.

Ardern, who was praised by Sopoaga for being constructive, also spoke out against Morrison, saying that as the biggest country in the region Australia "has to answer to the Pacific" on climate change.

As China's expanding economy shifts from an export and investment-led model to be consumption and services driven, the country's tourism sector continues to experience a major boom. The number of domestic tourists reached 2.83 billion in the first half of 2018, up 11.4 percent year-over-year, while outbound travelers surged 15 percent over the previous year to hit 71.3 million, according to the China Tourism Academy.

As China shifted its monetary policy to a prudent and neutral stance, liquidity pressure and intensified financial supervision forced financial institutions to tighten loan application reviews, rein in mortgage loans and lift mortgage interest rates.