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"China's current account is now broadly in line with fundamentals," said Gita Gopinath, an economist at the IMF. "The (current account surplus) decline reflected a combination of structural factors and expansionary credit and fiscal policies, but also greater exchange rate flexibility and the associated real appreciation over the last decade."

"Chips and software are closely bounded. That is particularly true in AI, as chips powering an application must be specifically designed. China's booming software market and large user base will allow homegrown companies to update chip design quickly based on user experience," said Roger Sheng, research director at consultancy Gartner Inc.

"China will work with the United Nations, the World Health Organization and other partners to assist Africa's response to COVID-19, and do it in a way that respects the will of Africa," Xi said.

"Chinese companies focus on social responsibilities and international market rules when investing and building industrial parks in Africa," Huo said.

"Compared with lending money to the underdeveloped region in the very beginning, Shanghai now cultivates clusters of industries in Shigatse, which helps boost local economic development in a sustainable way," the professor said.