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"By setting up manufacturing bases in Africa, Chinese companies are assured of a cheap, adequate labor force, access to raw materials and a big market," he says.

"By the end of February, the lake will receive 35 million cubic meters of water," Li, a senior manager at China Xiongan Group Ecological Construction Co, said, adding that the work was kicked off on Feb 1 after seven pump systems had been installed.

"China is awesome," Mitton added. "I might be a little biased, but I am really impressed with Chinese innovation."

"China is one of the few major economies in the world that have maintained normal monetary policy and we are still far from using the unconventional tools, such as the zero and sub-zero interest rates," he added. "China has sufficient policy space to support steady economic growth. Equipped with a rich policy toolkit, China is capable of coping with various uncertainties."

"China and ASEAN countries must work together to meet the challenge and fulfill our due responsibility, as host in the region, for peace and stability in the South China Sea," Wang said.