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By the end of the second quarter of 2019, the outstanding loans for poverty alleviation of development and policy banks accounted for more than half of total poverty relief loans in the whole banking sector, according to the China Banking and Insurance Regulatory Commission.

He added that the BRI, an initiative highly compatible with the 2030 Agenda, has become a road to cooperation, hope and prosperity, delivering real benefits to people the world over.

Given the size of the two economies and the level of their interdependence, so-called decoupling or shutting the door to each other is neither sensible nor realistic, Wang said.

China is ready to work with other Northeast Asian countries to further expand trade and investment, deepen industrial chain cooperation, and raise the level of infrastructural connectivity, he said.

Guangxi's geographical advantages have also given it huge development dividends over the past decades. ASEAN has been Guangxi's largest trade partner for 19 consecutive years, and trade volume between Guangxi and ASEAN in the first seven months of this year topped 128 billion yuan, accounting for 48.7 percent of Guangxi's total foreign trade.