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"Current law generally imposes administrative penalties on violators of product quality law, which are too lenient," Huang said. "A system under which violators of the law would suffer devastating consequences would act as a deterrent."

"China will briskly foster new growth drivers, improve technological innovation, push for upgrades of traditional sectors, and foster innovative, leading businesses," according to a statement of the key meeting.

"China's Position on the China-US Economic and Trade Consultations", a report released on Sunday by the Cabinet's Information Office, reiterated that Beijing does not want a trade war but is not afraid of one, that it won't back down on "major issues of principle", and that its only intention is to reach a mutually acceptable deal.

"Countries participating in the Belt and Road Initiative can increase exchanges and cooperation to promote standardization in agriculture and food safety, and promote their trade among the nations involved."

"Currently, several EU states have their own processes to examine and clear foreign investments in certain sectors of national and strategic importance. The EU could consider doing these clearances at a central level to improve efficiency and clarity for investors," Saz-Carranza said.