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"China's R&D expenditure as a proportion of revenue from principal business by sector has increased continuously in the past decade. The Made in China 2025 plan will further stimulate innovation of Chinese companies," Yuan said.

"Compared with CAFTA, the RCEP constitutes a bigger market so it means bigger trading opportunities. All of this will contribute to more trade, more development and more improvement in people's livelihoods," Philippine Ambassador to China Jose Santiago Sta. Romana said at the expo.

"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'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.

"Chinese producers have been going overseas to seek mining resources such as iron ore to ensure stable and low-cost supplies, as the nation sees its dependency rate on imported iron ore exceeding 80 percent," said Zhu.