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China has embarked on a path to empower domestic consumption with contribution of final consumption expenditure to economic growth at 76.2 percent in 2018 up from 45.3 percent in 2007, according to China's National Bureau of Statistics.

With Washington ramping up pressure on China and other trading partners, analysts worldwide have said such self-inflicted tariff hikes will also give a body blow to the global economy.

The output of mobile phones, computers and televisions amounted to 1.8 billion, 310 million and 190 million units in 2018 respectively, accounting for about 70 percent to 90 percent of global output.

Over 70 percent of the attendees are from outside China, which shows the international community's recognition of globalization as well as of China's development, he said.

At the upcoming Group of 20 (G20) summit scheduled for June in Osaka, Japan, China and France should push for a concerted and positive call for safeguarding multilateralism, opposing unilateralism and protectionism, maintaining the multilateral trade system with the World Trade Organization at the core, carrying forward the spirit of partnership, and promoting the balanced and inclusive development of the world economy, he said.