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"Compulsory technology transfers are explicitly banned, while we encourage the exchanges of knowledge and technology," he said, ruling out that China forces foreign companies to transfer their technology when considering investments in China.

"Chinese enterprises can seize the favorable opportunities to expand trade and investment in Africa, help Africa achieve economic takeoff while achieving their own development goals, and make contributions to promoting mutually beneficial and win-win economic and trade cooperation between China and Africa", Liu said.

"Consumers aged 23 to 38 are willing to spend on luxury brands, and financially able to do so. Fully 70 percent of China's millennials own their own homes — twice the rate of US millennials, according to HSBC's Beyond the Bricks study," the report said.

"Currently, our assets are the largest among all food traders in the world, and we rank second in terms of revenue and business scale," he said.

"Consumption scenarios for spirits have turned from business meetings to social gatherings and this change has brought new demand," Zhu said.