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"China has never resorted to competitive devaluation," said Sheng, deputy head of Shanghai-based CEIBS Lujiazui Institute of International Finance. "The market plays the main role in determining the exchange rate of the RMB."

"But we still face lots of challenges. For example, many seniors and people with disabilities don't realize the convenience of those facilities and rarely take advantage of them," he said.

"California has the 10th largest economy in the world, with a strong global exporting presence, particularly in areas like agriculture and technology" so the state probably didn't want to miss out on the potential economic development prospects associated with BRI, he said.

"China has obviously managed the pandemic better than other economies so far. It has a lot of domestic space to be able to manage a strong recovery. A lot will depend on policy choices. But we believe that China has the opportunity to seriously expand its domestic economy," Richard Kozul-Wright, UNCTAD's director of the division on globalization and development strategies, was quoted by Xinhua News Agency as saying.

"China is a big country and economic power with a huge population; and we are small with much less population. Our economy has started to pick up," said Zoltan in his speech at the launch. "But in the same way that China is keen to develop a friendship with our small country, so we also hope to deepen the relationship with China. And the two countries can develop such a friendship that both sides care about each other."