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"China is a major factor in the international economy; no one can really imagine international growth that is sustained without Chinese economic growth," said Rice, who also has served as US national security advisor.

"China as a world-leading economy and the UK's fifth-largest trading partner is an important market for British companies as we look to build independent trading relationships across the world," Fox said. "As an international economic department, we want 2018 to be the year of exporting, with businesses across the UK seizing the opportunities that the world provides."

"By 2010, China had fulfilled all of its tariff reduction commitments, reducing the average tariff level from 15.3 percent in 2001 to 9.8 percent," Vice Minister of Commerce Wang Shouwen said at a briefing on the white paper Thursday.

"China also needs to accumulate more technologies and practical solutions to produce batteries for electric vehicles in a cheaper way and handle old batteries in a sustainable way," he said.

"China has consistently helped ASEAN in realizing the SDGs," he said, noting that members of the regional bloc "learned a lot of from China's experience in eradicating poverty and inclusive innovation".