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"China's traditional drug research and development pattern, which was dominated by generic drugs, is undergoing transformation, and new drug development has ushered in new opportunities. From the perspective of supply and demand, the pharmaceutical industry will continue to be one of the main driving forces for investment in China's primary market," said the report.

"Cities, states, and nations that invest in their people will thrive," he added.

"Chinese firms in Ethiopia are predominantly investing in the manufacturing sector followed by the service sector and the agricultural sector."

"China's overall strengths, including supply chain, opening-up in financial services, as well as talent in e-commerce, are so prominent that they (foreign businesses) are confident to invest here long-term," he said, based on a recent survey of clients about their attitudes toward China.

"Cooperation between China and EU could help realize the great potential of EU's Connecting Europe and Asia strategy and China's Belt and Road Initiative," Xie said.