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"China has sufficient policy tools," said Pan, who is also director of the State Administration of Foreign Exchange, the country's foreign exchange regulator.

"China has become the second-largest trade partner for Latin America. The Belt and Road Initiative will further promote bilateral trade and help facilitate social exchanges and investment," said Gao.

"By fostering a close relationship between merchants and consumers through original content marketing, we aim to become the bridge and first stop for international brands entering China," said Xiong Jian, general manager of Xiaohongshu's public policy department.

"China is already a leader in e-commerce in many ways, especially in online payment that enables consumers in big cities to pay with mobile phones. Everything from supermarket shopping to utilities and taxi fares can be paid via an e-wallet," he 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.