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"China's steel manufacturing infrastructure is the most advanced in the world. The small and unregulated steel mills, which are producing substandard steel with high pollution, should be eliminated," Li said.

"Contrary to the claims made by some academics and media outlets that the Indo-Pacific Strategy aims to contain China, the four countries official position is that it targets no one," Wang said. "I hope they mean what they say and their action will match their rhetoric."

"China's semiconductor display industry has taken large steps forward in the past decade, changing the display industry's global competitive landscape. China has transformed into the world's largest consumer market and manufacturing base for display terminals, with huge market potential," said BOE Vice-President Zhang Yu.

"Chinese investors' footprint is spreading across five continents, focusing on not only 'going out' but also upgrading businesses to higher end of the value chain," said Loletta Chow, global leader of EY's China Overseas Investment Network, at a news conference on Thursday.

"Current domestic output is more than sufficient for China's requirements, including for real estate and infrastructure projects," Xu said, adding that Chinese companies are now looking to expand their footprint in overseas markets.