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"China's service trade has entered a new level, becoming a fresh driving force for the high-quality development of foreign trade and a new engine for promoting higher-level opening-up," Li said.

"Chinese authorities are looking to fast track new energy vehicle (NEV) sales, but despite subsidies the growth in volume in the NEV segment amounts to just around 1.8 percent of the total vehicle market in China so far this year. The authorities are beginning to look for tougher and more stringent ways to strengthen the NEV segment," wrote Namrita Chow, principal automotive analyst of IHS Markit, in an email.

"Corporate income tax evasion in the region is especially acute," the agency said, adding that tackling tax evasion should be a priority, as the region lost 5 billion, or 6.1 percent of its GDP in 2018, due to tax noncompliance.

"Cross-border e-commerce brings innovation to China's online retail," said Feng Gengzhong, dean of The School of Management at Xi'an Jiaotong University at a panel discussion during The Third Silk Road International Exposition and the Investment and Trade Forum for Cooperation between East and West China.

"Chinese investors have the ability to add value to our economy, create more jobs and boost our export value. They are certainly welcome," he said addressing hundreds of Chinese investors exhibiting in the event.