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"Everywhere you turn there is uncertainty," said Michael Spence, professor of economics at the Stern School of Business at New York University and a Nobel Prize winner for economics.

"Expanding imports is crucial for upholding free trade. Priority should be given to meeting the needs of everyday life and boosting the trade in services," Li said at the meeting.

"During that time, there were a lot of cultural exchanges and it was a time when China was prosperous and strong," Jiang said.

"Everyone in China knows the story, but in European countries or the US, few people know about Journey to the West. I think such an intriguing story should be introduced to more people," he said.

"Demand for international cuisine like Japanese food is rising in second or third-tier cities as many young people who used to work in first-tier cities in the past are now back in their hometowns, and look to continue their old food habits."