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"China can provide Canada with low-cost products for the manufacturing sector in return," he added. "China's outbound investment has been increasing rapidly. If its investment in Canada is also on the rise, it will help to boost the local economy.

"COVID-19 has been rampaging over the world, which requires the international community to further enhance global health governance," said the report, released by the Institute of World Economics and Politics under the Chinese Academy of Social Sciences. "As a responsible country, China should take the opportunity to further participate in and contribute to global health governance and share its wisdom with the rest of the world."

"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.

"Carrefour will be further isolated if they don't join Tencent," Yu said.

"But, over the next decade, the Chinese stock market will offer more investment opportunities than the housing market", as excessive money supply－the major driver of property prices in the past decade－will not continue.