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Ann Sim, Singapore's senior minister of state, said for her country, the Belt and Road Initiative will create new export opportunities to third party markets through its joint projects in China.

Another index, the number of "impoverished counties", dropped from 832 to 52 over the same period, he added. The term is defined as places where poverty rates hover above 3 percent in the nation's western areas or 2 percent in richer coastal regions.

Annual dairy product sales in China are predicted to grow 16.8 percent to 480 billion yuan by 2023. Currently, China is the second-largest dairy market globally, following the United States. This year, total sales of dairy products are expected to reach billion in the US, Euromonitor found.

Answering a question about Chinese enterprises' overseas marketing, the economist said "the fact is globalization cannot go away, it's part of the economic fabric of the whole globe".

Anthony Bruno, one of Christensen's attorneys, said after the proceeding that the defendant has demanded a jury trial and "plans to persist in his plea of not guilty".