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"China's rapid rise reflects a strategic direction set from the top leadership to developing world-class capacity in innovation and to moving the structural basis of the economy to more knowledge-intensive industries that rely on innovation to maintain competitive advantage," said WIPO Director-General Francis Gurry.

"China's booming refining sector will add more pressure to crude demand, and unless the government restrains policy on refined oil exports to suspend the investment impulsion for refining projects, this will only require more crude imports in the months to come," she said.

"China's Belt and Road Initiative will be a focus for discussion again this year, as the initiative is China's solution and wisdom for embracing globalization and to generate new growth opportunities for the global economy," Xu said.

"Cultural exchanges are crucial for Chinese and African people to understand each other and for the two sides to further consolidate their relations," David Monyae, co-director of the Confucius Institute at University of Johannesburg, South Africa, told Xinhua News Agency in an interview last month.

"China would not want to increase the value of the exchange rate and it would not want to undermine the value of the bond," he told this newspaper on the sidelines of the China Development Forum in Beijing on March 24.