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"China's development in power generation technology will (also) play an even bigger role in these economies' development, which is beneficial to the entire world," Yuan said. Cooperation between China and other Belt and Road Initiative economies is linked through development contracts and equipment exports. China has signed agreements involving 295 power projects with more than 40 countries in the past four years. These include coal-fired and hydropower stations in Southeast Asia, and wind farms and coal projects in South Asia.

"China will face a severe challenge in meeting its pension obligations," Chu Fuling, director of the Institute of Social Security Studies at the Central University of Finance and Economics in Beijing, told Xinhua on Saturday.

"Compared with other online luxury platforms, our company is built around competitiveness," said Hong Xiaobo, chief operating officer of the company.

"Chinese consumers are more sophisticated and attach more importance to quality and value. They prefer products that are pleasant to the eye, user-friendly, intelligent, and ideally, connected. We made major adjustments to our product lines last year and took steps to shorten the time spent on research and development," he said.

"China's twin cushions－foreign exchange reserves and extremely high domestic savings rates－provided it with both the resilience and policy space to proactively address major economic and financial threats, unlike more-vulnerable economies. This is increasingly important in a crisis-prone world," Roach added.