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"China's rare-earth export quota didn't have the desired effect on the importing countries, especially Western countries, because smuggling of rare earths was rampant and some export companies falsified customs codes to evade the export quota and continued to export them to other countries," Jin Baisong, a retired researcher at the Chinese Academy of International Trade and Economic Cooperation, said in an article published on China Daily's website.

"China's rate of account ownership – a basic metric of financial inclusion – has increased significantly and is now on par with that of other G20 countries," while having the world's largest agent banking network, a press release on the website of the World Bank said on Sunday.

"China will continue to outshine others at a time when the developed countries are expected to remain mired in economic stagnation," said Justin Yifu Lin, former World Bank chief economist, at the forum, adding that China's economy will remain robust and serve as the world's economic engine.

"China's successful model of economic development should be a role model for other countries including Cambodia as it helps determine a clear political line for the country's development, expanding the country's influence and enhancing the country's role in regional and global frameworks," Phea said.

"Cooperation under the framework of the Belt and Road Initiative may start with California," Zhang said.