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China's economic policies have raised a larger number of people out of poverty in a shorter period of time than any other recorded period in history.

China's entertainment and media industry revenue will grow at a compound annual rate of 5.6 percent and reach 4.7 billion by 2023, remaining the world's second-largest market. Digital revenue accounted for more than 70 percent of the industry's revenue in 2018, and the rate could reach 75.4 percent by 2023, the report estimated.

China's newly approved Foreign Investment Law will also provide opportunities for Europe to further strengthen cooperation with China, given that it shows China's efforts to improve its domestic business environment, he added.

China's exports of homegrown, high-end seeds to countries and regions involved in the Belt and Road Initiative have seen a major surge in recent years, according to the head of the sector's top business chamber in China.

China's massive demand is estimated to generate over trillion of imports of goods and services in the following 10 years. It will surely provide a lasting boost to global revival in the post-pandemic era, Huang added.