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"China needs to prevent the Trump administration from replacing the bilateral, multilateral and global trade rules with unilateralism on trade," the former vice-minister of commerce told China Daily on Sunday.

"China is the biggest single market in the world," said Francis Sum, president of China with Volvo Construction Equipment.

"But such merits are selectively ignored in many debates," Ban said, adding that he hopes Asian countries and business leaders can work together in the context when the world is facing such long-term challenges and near-term uncertainties, so as to give hope to the world and become a global growth engine.

"China and the EU should join hands to cope with new changes in economic globalization by persisting in free trade and multilateralism as the focus," said Chi Fulin, president of the China Institute for Reform and Development.

"But we will be very cautious about overseas expansion, to ensure a steady development of the group," he added.