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The World Bank estimates also showed that trade in the BRI region would increase 13 percent at most, because the BRI will likely foster infrastructure connectivity in the region and reduce trade time by 26 percent on average.

"Financial resources should flow more to the real economy, especially to agriculture and small and micro businesses to ease their credit crunch and high financing cost," he said.

BEIJING, Nov. 8 (Xinhua) -- Chinese President Xi Jinping Wednesday called on journalists to strengthen their confidence in the path, theory, system, and culture of socialism with Chinese characteristics.

Chinese firms, along with peers from other manufacturing nations, have started to transfer at least part of their production bases to less-developed economies in search of lower labor costs. Domestically, the government is pushing industries to move up the value chain, shifting to a new growth pattern based on innovation rather than cheap labor.

The SOA sent the first of the five inspection teams in this round to Shanghai Friday, while another four will soon start on-site investigations in Tianjin Municipality and the provinces of Shandong, Zhejiang and Guangdong.