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As to the groundbreaking blockchain technology that would ultimately lead to mass decentralization across industries, Professor Shoucheng Zhang of Stanford University expounded on the cyclical nature of centralization and decentralization.

As the world's second largest economy with a population of more than 1.3 billion, China has made significant contributions to the development of world tourism in recent years, said Zhu Shanzhong, executive director of the Madrid-based United Nations' World Tourism Organization.

As the western region is facing key developmental challenges, such as increasing constraints on land and capital, the government will adopt more targeted measures to help the region to catch up with other more developed eastern provinces, Xiao said.

As structural reform breeds innovation-driven growth, these zones have become attractive to investors and contributed to policy innovation and opening up in industry, finance and other sectors.

As urbanization further progresses and the population of the middle class further expands in China, China's consumption market scale will keep enlarging. "There are still huge growth potentials for US exports to China in the future," Xu added.