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"China expects this year's meetings to focus on East Asia cooperation, jointly safeguarding multilateralism, maintaining free trade and international rules, and promoting regional economic integration."

"China does not deny the importance of opening-up. In fact, the country is pursuing a new development plan, focusing on its domestic market and meeting domestic needs," Cui said.

"Car buyers should not have unrealistic expectations for price reductions, and they should make reasonable choices according to their needs and purchasing ability," Cui added.

"China is rapidly globalizing its industries by encouraging its higher-value-adding industries, such as power generation, construction equipment, and telecommunications systems, to supply overseas projects in the Belt and Road Initiative and to invest in foreign market operations," it said.

"China is a major innovation hotspot and one of our most important growth markets. We are now creating a strong platform for Merck and our partners to drive innovation in southern China. At the same time, we are strengthening our footprint in this vibrant ecosystem of innovation," said Merck executive board member Kai Beckmann at a promotional event.