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China floated the idea of BRICS Plus in March to expand the bloc's partnership, including some from G20 members, especially with developing countries. Members are set to consider the initiative during the upcoming summit scheduled for Sept 3 to 5 in Southeast China's coastal city of Xiamen.

China banned online lending platforms from campuses in 2017 after the lives of some young people were damaged, with some pushed to commit crimes, as they sought to repay their debts. A few even killed themselves because they were unable to pay off their debts.

China has advanced high-speed rail technologies to build safe and cost-effective railways, said Li, adding that he hopes Singapore can support Chinese enterprises' participation in the rail project.

China has been one of ASEAN's most important trade and investment partners and vice versa, thanks to geographic proximity and strategic partnership between the two sides. Multilateral and bilateral free trade agreements have significantly boosted China-ASEAN trade and investment relations, Cambodian Ministry of Commerce Undersecretary of State Seang Thay told Xinhua.

China follows a "five-nos "approach in its cooperation with Africa - no interference in the development paths of individual countries; no interference in their internal affairs; no imposition of China's will; no attachment of political strings regarding assistance; and no seeking of selfish political gains in investment and financing cooperation.