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"China is more a partner than an investor," he stressed.

"But our pressure is far less than the small- and medium-sized service providers. Their difficulty affects the entire industry," said Liang.

"But there are some worrisome and destructive forces at work on all sides of the bilateral relationship and the global environment that could lead us to a very unfortunate end," the former chairman of Morgan Stanley Asia warned.

"China is ready to keep close communication with relevant parties, uphold just and objective positions, stand for international law, fairness and justice, and maintain peace and stability in the Gulf region and the Middle East," he said.

"CIIE serves as the platform for international procurement, investment promotion, cultural exchange, and opening-up and cooperation," said Wang Bingnan, vice-minister of commerce and director of the CIIE Bureau, while addressing the ceremony. "Amid the COVID-19 pandemic, to successfully host the third CIIE shows China's crucial role and responsibility in restoring the global economy," he added.