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China Telecommunications Corp, the smaller rival of China Mobile, also said earlier this year that it would invest more than billion over the next three to five years to expand its presence in countries and regions related to the Belt and Road Initiative.

China National Petroleum Corp, the country's biggest oil and gas company, said recently that it will ramp up clean energy production capacity and ensure that domestic natural gas accounts for more than 50 percent of its primary energy output at home by 2020.

China accounts for half of all global pork consumption, and pork imports have grown at an annual rate of 150 percent since 2007. In November, two companies in Northern Ireland gained approval to export pig trotters to China in a deal that could generate an estimated 20 million pounds a year for UK farmers. Trotters are not widely eaten in the UK but are considered a delicacy in China.

China also resolutely opposes official exchanges and military links between Taiwan and the United States in any form, Ma said.

China and the US could deal with trade conflicts in a positive and mutually beneficial manner, said Wei, also a former vice-minister of commerce.