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"China is an important market for Shorelight as Chinese families are deeply connected with internet and their habits are more integrated with blended learning experience," he said.

"China has obviously managed the pandemic better than other economies so far. It has a lot of domestic space to be able to manage a strong recovery. A lot will depend on policy choices. But we believe that China has the opportunity to seriously expand its domestic economy," Richard Kozul-Wright, UNCTAD's director of the division on globalization and development strategies, was quoted by Xinhua News Agency as saying.

"China and the US, the two major countries, bear special duties in this regard," he said.

"California has the 10th largest economy in the world, with a strong global exporting presence, particularly in areas like agriculture and technology" so the state probably didn't want to miss out on the potential economic development prospects associated with BRI, he said.

"China has made significant progress in financial inclusion," said the IMF in a report, after it assessed the country's financial sector performance during the past five years. "High levels of account penetration, savings, and usage of payments services have been achieved."