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"China and ASEAN have great trade potentials other than areas of tropical fruits and seafood, now that the initiative broke regional barriers by renovating infrastructure and facilitating communications," said Lin Guijun, trade expert and professor at the Beijing-based University of International Business and Economics. "The energy sector, for instance, has seen increasing trade and cooperation."

"China is likely to become more determined to develop renewable energy as part of its efforts to reduce energy imports from a longer term perspective, as the COVID-19 has worsened geopolitical tensions and international trade disputes that will not be eased anytime soon, increasing China's energy security concerns," she said.

"China now plays a critical role in the global digital landscape. The majority of future digital innovations in the coming years will come from China and Silicon Valley," said Arndt Groth, former president of the Bundesverband Digitale Wirtschaft, Germany's leading digital marketing association.

"China has shown demonstrable commitment and willingness in collaborating on COVID-19 related research, vaccine development, and medical equipment provision, encouraging openness and data sharing to help ensure diagnostics, vaccines and prevention measures are developed rapidly for the benefit of every nation," he said.

"But the proportion of local government debt should decrease, to ease pressure on the local authorities and reduce the difficulty of debt risk prevention and control as a whole," said Liu.