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As Liu concluded in the letter, Shanghai has already grown into an important driver of China's economic development. The city is striving to be a new hub of financial opening-up by exploring integration among finance, technology and industries, he said.

Areas for cooperation will be expanded to include third-party-market cooperation, tripartite cooperation and public-private partnerships, as well as legal cooperation.

Ardern will decide on Monday whether the country is ready to shift to alert level 1, more than two months after she imposed a strict level 4 lockdown, shutting most businesses and forcing people to stay home, in response to the coronavirus pandemic.

As China is likely to create a giant oil and gas pipeline company this year as part of the nation's effort to reform the State-owned petroleum industry, insiders believe the move will shake up the petroleum sector and break the monopoly in the oil and gas sector.

As China firmly fulfills its commitment to opening-up, it has also provided new opportunities to the rest of the world, contributing further to rules-setting in global economic and trade affairs, according to Chen Fengying, senior researcher of the world economy at the China Institutes of Contemporary International Relations.