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"Covering 29 percent of the global economy, the RCEP is a significant trade agreement in anyone's terms," said Melissa Conley-Tyler, director, diplomacy at Asialink, a think tank at the University of Melbourne.

"Chinese investors are more cautious about investment. They no longer chase those hotbeds but start to think about business sustainable in the long term," said Xu.

"China's economic growth in the new era will be of higher quality, more efficient and more sustainable," Wang said at a news conference.

"Chinese tourism is a big prize in global trade. ... On this front, the US has more to lose than China," Robin Winkler, foreign-exchange strategist at Deutsche Bank, said in a note in June. The trade war "would likely take a severe dent to household income growth to squash the new middle class's appetite for passports and foreign travel. A weaker exchange rate could make foreign travel somewhat less affordable", Winkler added.

"Cuba hopes to open (its markets) as China has done, and we see this business forum as an opportunity. Tourism is very well developed and we believe that our products will have a great advantage here," he said.