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"China welcomes Panama to actively participate in the Belt and Road construction," Wang added.

"China will continue with the two-way opening of its financial market. For example, there is still big room to allow more overseas financial institutions to sell onshore yuan-denominated bonds. It will help promote greater two-way flow of capital and help lift the profile of the Chinese currency in the global markets," said Xu Hongcai, deputy director of the economic policy committee of the China Association of Policy Sciences.

"Chinese tourists will be able pay for various hospitality services using Alipay and WeChat Pay," he said, noting that East African traders will be able to purchase goods from China using the Chinese mobile payments.

"Considering that the average basic consumption expenditure for residents in Chinese cities and towns is about 4,200 yuan a month per person in 2018, we set the minimum threshold of personal income tax at 5,000 yuan. It not only covers the expenditures but also leaves room for further increases in consumption," Vice-Finance Minister Cheng Lihua said at a news conference on Friday.

"China's process industry is catching up to the rest of the world in terms of sustainable, high-quality development, yet many companies don't know how to well structure the strategy to execute it," said Chen Yan, vice-president and general manager of Honeywell Process Solutions, China.