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Jin said the bank will substantiate and refine its strategy and deliver strong operation results.

Today, almost 300,000 Chinese citizens live and work in the UAE, along with over 4,000 companies, 249 trade agencies, and 5,451 registered Chinese brands, according to the UAE Ministry of Economy.

In the 1980s, then Chinese leader Deng Xiaoping, after meeting then Philippine Vice President Salvador Laurel and then Philippine President Corazon Aquino successively, proposed peacefully solving the South China Sea disputes, and shelving disputes while seeking joint development. The reason why such a constructive consensus was reached was that the two sides realized that hope was far more than difficulties and common interests were far more than differences.

But Chinese G20 presidency, assisted by OECD and other partners, has been trying to find the most possible consensus, the OECD official said. "The cooperation with China is very encouraging and China is ambitious in trying to find solutions," she added.

The People's Republic of China, under the CPC's leadership, has grown into the world's second largest economy in less than 70 years after its founding.