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"Clearly the Belt and Road Initiative increases connectivity. With digitalization, you are connected with the world regardless of your geographical location, so you can develop your economy and society," Portas said on the sidelines of the three-day Shanghai Forum 2019, an annual gathering hosted by Fudan University and the Korea Foundation for Advanced Studies.

"Countries like Thailand are impressed by what China has achieved," the deputy prime minister said.

"Currently, blockchain is in its early stage of development," Liu said. "Blockchain will definitely flourish in the future, which will empower the real economy and improve people's livelihoods."

"Chinese authorities have not used the exchange rate in prior easing cycles to support growth, and they are unlikely to do so now, as this could pose macroeconomic stability risk," said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings.

"China will step up support for small and medium-sized banks by launching a 'green passage' scheme to help replenish capital and accelerate efforts to introduce new strategic investors," said Xiao Yuanqi, chief risk officer and spokesperson of the China Banking and Insurance Regulatory Commission.