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As unilateralism and protectionism led by the United States rise, China and the EU should shoulder the responsibility together to safeguard multilateral trade rules and rebuild the system of international economic governance, Wei said.

As the most significant tax overhaul for two decades, VAT is replacing business tax which has been in place for 60 years, streamlining procedure, and avoiding repetitive taxing. It was piloted in Shanghai in 2012 and expanded nationwide in May 2016.

As the Belt and Road Forum approaches, preparations are getting more visible. Beijing is to host a mega event, as many heads of states, world leaders are expected to attend it. As it is a biannual event, people hope a lot of expectations.

As such, the best way to commemorate the 40th anniversary, as they said, is not to review what it has achieved but to continue to hold dear what has made that happen.

As with other developing nations, equipment and specialist knowledge are in dire need in Peru.