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"China's economic development is a process of actively integrating with economic globalization and constantly expanding its opening up," the NDRC said, adding that with better industrial, policy and legal environments, China has the foundation for opening up at a higher level.

"Countries are acutely aware that the US is not only having trade disputes with China. ... It appeared that the US is challenging the international trade system, as small economies are also under the threat of protective trade measures," he said.

"Currently, SMEs are expected to ensure enough cash flows and prevent disruptions by increasing business income, reducing operating costs and obtaining external financing," said Huang Yiping, a professor and deputy dean of the National School of Development at Peking University.

"China's proposal to explore third-party market cooperation could bring benefits to both Western nations and developing countries involved in the BRI, without causing a clash of interests," Li said.

"China's Belt and Road Initiative will be a focus for discussion again this year, as the initiative is China's solution and wisdom for embracing globalization and to generate new growth opportunities for the global economy," Xu said.