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"CNPC will deepen cooperation with economies participating in the Belt and Road Initiative in the oil and gas sector, consistently promoting energy and infrastructure cooperation," said Wang Yilin, CNPC chairman, during the Belt and Road Roundtable for oil and gas cooperation in Beijing on Tuesday.

"China now focuses less on planning for pursuing GDP targets. That is a major difference compared with past practice," he said.

"Capable shipyards have already shifted a part of their business to maritime economy and other fast-growing businesses such as new materials, mechanical and electrical equipment, because, apart from higher profits, there is also less competition as not many shipbuilders are able to produce these sophisticated products," said Li.

"By doing so, they are in fact destroying the jobs of these young people."

"China is the world's largest smartphone market. Samsung's limited presence in China has considerably harmed its business," Xiang said, adding that Samsung's business in India is also heavily affected due to city lockdowns.