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"Consequently a major challenge for the Labour government in its second term will be to stabilize the large increase in government debt as a share of GDP caused by the COVID-19 pandemic fiscal stimulus measures," he said.

"Compulsory technology transfers are explicitly banned, while we encourage the exchanges of knowledge and technology," he said, ruling out that China forces foreign companies to transfer their technology when considering investments in China.

"Consumption has been playing a bigger role in China's economic development while the country is undergoing economic restructuring. The trading hub will cater to the demand of increasingly sophisticated Chinese consumers. It is our hope that we can build the trading hub as the ideal venue for companies to launch new products and into a most influential distribution center for imports and exports,"Zhang said.

"China's SOEs maintain benign partnerships with enterprises under all types of ownership, as well as foreign enterprises. Cooperation helps China's SOEs in further deepening reform, improving development quality and enhancing management. This is a win-win situation that we look for," Xiao said.

"Consistent reform and innovation has helped XCMG to grow from a company with less than million in overseas revenue to an industrial export leader with more than .3 billion yuan in overseas revenue a year," said Wang.