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The report highlighted shared benefits, saying that the Belt and Road Initiative "is not a zero-sum game" and "is meant for mutual benefits and win-win and all-win outcomes."

The report noted that great wealth in Asia remains relatively volatile in a climate of rapid economic development and erratic stock markets that forge fortunes fast, but that can equally undo them.

The report said China has 42 percent of global e-commerce, which processes 11 times more mobile payments than the United States, and is home to one-third of the world's unicorn companies (private startups valued at more than billion).

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The remarks from UK officials, current and former, underline a more relaxed attitude to China's growing telecoms role than that shown by some of its closest allies.

The region's small and medium-sized businesses are also looking to break into Asian markets, especially China, said Alejandro Salcedo, head of the Mexican chapter of the Latin American Association of Micro, Small and Medium-Sized Businesses.

The regulation, dubbed "the strictest waste classification measure in history" on social media, requires people to sort household trash into four categories — dry garbage, wet garbage (kitchen waste), recyclables and hazardous waste.

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The report also revealed an increased willingness to pay among people in rural areas.

The report focused on 41 countries taking part in the initiative to evaluate and analyze these countries' trade, investment development and future trends from four dimensions: scale, facilitation, risks and potential during 2012-2017.

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The report noted an increasing number of young people prefer to start a business in platforms that offer shared accommodation, as 70 percent of major shared accommodation platforms hosts were born in the 1980s and 1990s.

The regulation will take effect on Jan 29, 2018, replacing the interim regulative measures released in 2005.