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"China has said many times that it is never eager to take part in a trade war, but it is not afraid to participate if necessary. China will firmly defend its legitimate rights," he said, adding that the country will enhance cooperation with its global trading partners and firmly defend free trade principles and a multilateral trade mechanism.

"CNPC will deepen cooperation with economies participating in the Belt and Road Initiative in the oil and gas sector, consistently promoting energy and infrastructure cooperation," said Wang Yilin, CNPC chairman, during the Belt and Road Roundtable for oil and gas cooperation in Beijing on Tuesday.

"CIIE is a moment where all eyes of the world will be on China, and this could be a great moment to have important announcements followed by actions to show its willingness to open the market," he said.

"But, over the next decade, the Chinese stock market will offer more investment opportunities than the housing market", as excessive money supply－the major driver of property prices in the past decade－will not continue.

"But the case of the draft legislation on safeguarding national security in Hong Kong has been the magnet of reproach from many antagonists of China.