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"China and the Philippines have reached consensus on the joint development of oil and gas resources in the South China Sea and have established a cooperation mechanism for relevant consultations," Zhao said at a daily news briefing.

"China offers many lessons for Africa's development agenda. Beijing's legendary poverty reduction and social safety net that has seen China lift more than 740 million people out of extreme poverty is an enviable example that Africa should emulate," he said.

"China has been the second-largest life insurance market in the world, but market potential remains large as the population ages and spending on healthcare increases", Su added.

"But there remains huge development space in China's financial sector. The country's faster pace in opening-up has offered those growth opportunities to global investors, providing a safe haven for investment and shoring up confidence," Bian said.

"China has always made a big play about wanting to do international collaboration," Harvey said.