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In terms of government debt risks, Gaspar said China's public debt levels are relatively low by international standards. If some investment activities which are off-budget were taken into account, the augmented government debt level would be higher, reaching about 60 percent of China's gross domestic product (GDP).

In recent years, China has been gradually loosening its restrictions on the business operations of wholly-owned foreign oil companies in the country, including lifting the 30-site limit for international fuel retailers.

In recent years, the country has stepped up efforts to tackle unauthorized fees levied on businesses, with the State Administration for Market Regulation having detected and dealt with 620 million yuan worth of illegitimate corporate fees in its inspection last year.

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In terms of innovation strength, Shanghai took the first place, while Jiangsu province reported strong performance, accounting for nearly half of the top 10 cities.

In response, Li said China's economic growth has not come without negative consequences for the environment but as China had adhered to the path of giving priority to ecology and green development in recent years, solid progress had been made in curbing pollution.

In recent years, the two countries have deepened their political mutual trust, made outstanding achievements in cooperation under the Belt and Road Initiative, and achieved productive outcomes in building the China-Pakistan Economic Corridor, which have brought solid benefits to both countries and peoples, Li said.

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In recent years, an increasing number of Chinese companies have shown an interest in investing in overseas football clubs, resulting in overpricing of this sector. But the Chinese government has increased scrutiny on overseas investment and tightened restrictions on speculative deals by Chinese companies in sectors such as property, sports and entertainment.

In regards to the future relationship between the EU and China, Gambardella said Europe is eyeing a "more and more open China."

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In terms of finance, China has signed currency swap agreements with 22 countries and regions along the Belt and Road, with total size reaching about one trillion yuan (0 billion).

In retail industry, 46 percent of the interviewed retailers reported a year-on-year increase in sales in June, down by 1 percentage point from May.