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"China and India are complementary in the field of pharmaceuticals. The resource grafting of Chinese and Indian pharmaceutical companies represented by Fosun Pharma and Gland Pharma will help promote the internationalization of Chinese pharmaceutical companies in R&D innovation and generic drug export," Chen Qiyu, co-president of Fosun Group and chairman of Fosun Pharmaceutical, said in the announcement.

"By putting an end to the DPP and starting a fresh chapter, I look forward to drawing a constructive, forward-looking conclusion."

"China is a leading country in this field," Shehata said, adding that China is always ready to help friendly countries improve their infrastructure.

"China is key to our future growth as it currently represents a quarter of our portfolio. The opening of Fraser Place Binhai Tianjin is significant as it underlines our ambitions to grow our presence in China," said Choe Peng Sum, CEO of Frasers Hospitality.

"China has the global competitive edge in terms of labor-intensive products, while the US has the global advantage in terms of skill-intensive products and service industry," said Xu Hongcai, an economist with the China Center for International Economic Exchanges.