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"During the process, many foreign companies will spend more than 3 percent of their total revenue on digital transformation. Chinese firms, on the other hand, may spend 1 percent to 1.5 percent of their revenue for the same," Sun said. "It is a good thing that more and more Chinese companies now consider digital transformation a priority. But it will still take a long time for them to increase the IT spending and finally enter the mature period when the integration of IT and the firm's business will foster new opportunities and generate new revenue streams."

"Few will deny that Chinese currency is set to become a more important player on the world stage, particularly through the lens of China's Belt and Road Initiative," she continued.

"Each gigawatt of nuclear capacity built in place of coal - about the size of one new nuclear power plant - will avoid the emission of around 8 million tons of carbon dioxide each year, as well as sulfur and nitrogen oxides and particulates.

"During the meeting, both sides reaffirmed President Trump and President Xi's commitment to keep up pressure on North Korea's illegal nuclear weapons and missile programs," Nauert told a news briefing.

"Environmental challenges remain and more reforms are needed for China to achieve greater progress," he added.