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As an increasing number of middle-aged people and seniors are taking their familiarity with technology from the workplace with them into retirement, many have started shopping online, including on Taobao and JD, two leading Chinese e-commerce sites.

As a professional, international and high-level event, the fair has played an active role in the country's technological development, from making improvements and catching up with other countries to taking the lead in internationally advanced technological levels, Wang Lixin, the fair's secretary-general said.

As an important participant in global value chains, China's initiative to expand imports and greatly ease market access will effectively reduce the cost of joint construction of new global value chains by companies in various countries, and significantly increase the operational efficiency of the global value chains.

As a responsible major country, China has repeatedly reiterated that it will not engage in competitive currency devaluation and will not use the exchange rate of the yuan as a tool to deal with external disturbances such as trade disputes, Lu added.

As a strand of the global New Silk Road, China is also building a 926-km railroad from Tehran to the eastern city of Mashhad, Iran's primary pilgrimage site which attracts tens of millions of visitors each year. Construction of the electrified railway by China National Machinery Import and Export Corporation, also a State-owned enterprise (SOE) , is expected to take up to four years. Once completed, it will reduce the journey from 12 hours to 6 hours and increase transportation capacity to 25 million passengers and 10 million tons of cargo per year.