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Chinese economy has transitioned from a phase of rapid growth to a stage of high-quality development, said Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, warning that old ways of thinking might lead China almost nowhere and miss precious opportunities.

Chinese investment in overseas property assets reached a record high of about .5 billion in 2017, up 8 percent year-on-year, and seven times higher than that of 2012, Real Capital Analytics said.

Chinese firms began stocking up imported goods in September and peaked a month later. The Hangzhou zone recorded 1.11 billion yuan (8 million) worth of goods in October, up 95.5 percent from last year.

Chinese companies are also seeking opportunities in other Belt and Road countries and regions that have burgeoning populations but underdeveloped infrastructure such as India, Vietnam and Thailand.

Chinese buyers made headlines in recent months by snatching up landmark London commercial properties. CC Land bought the Cheesegrater for 1.15 billion pounds in March, and China Resources Land bought 20 Gresham Street in May for 315 million pounds.