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"By building industry clusters, provinces and municipalities along the belt can boost their competitiveness, which will optimize the industrial structure and help move industries in the regions from 'mid to low-end' to 'mid to high-end' markets in the long term," said Wu Qi, from the commercial bank research center at Hengfeng Bank Research Institute.

"But the policy response has also contributed to global public debt reaching its highest level in recorded history, at over 100 percent of global GDP (Gross domestic product), in excess of post-World War II peaks," they noted.

"China is the birthplace of tea, and it boasts excellent tea-making techniques and profound tea cultures. As a Chinese tea maker, I feel obliged to popularize Chinese tea products and cultures across the world," Zhang said.

"China is taking the lead in the autonomous driving sector around the world," said Li Zhenyu, corporate vice-president of Baidu and general manager of the company's intelligent driving group. He said that Baidu Apollo will continue to push forward the commercial application of autonomous driving.

"China is so integral to global supply chains for many products that a good portion - but not all - of the tariff impact will be passed onto US consumers. US firms will be the bigger losers," he added.