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"China is a key and huge market for UBS, and the further opening-up of China's financial sector represents great opportunities for our businesses, including investment banking, wealth management and asset management," UBS said.

"Cambodia believes the Belt and Road Initiative is a positive and new path for country-to-country relations," said the minister.

"China is a superpower in manufacturing and it has large markets. And Israel is a leader in innovation and entrepreneurship, having strengths in artificial intelligence, software development and developing components used in robots, such as vision sensors.

"China back then, and China today, are very different worlds."

"But the yuan is not heading for any major appreciation," Yang said, citing the regulators' policy stance of further improving the exchange rate regime and "keeping the renminbi exchange rate generally stable at an adaptive and equilibrium level".