Guo Weimin, vice-minister of the State Council Information Office, said at the forum that China will coordinate with other countries under the G20 mechanism to seek new growth momentum for the global economy.

Given the difficulties and governance challenges the world is facing amid rising protectionist and isolationist ideologies, "Cooperation is the best choice for China and the US", Guo said. "We hope the two countries walk in the same direction in managing differences based on mutual respect and cooperation based on a win-win foundation."

On Monday, the World Trade Organization warned in a report that new trade barriers imposed by G20 economies during the past eight months may affect goods worth $335.9 billion. That was another strong signal of economic downside risk after the World Bank and the International Monetary Fund downgraded projections for global growth.