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"California has the 10th largest economy in the world, with a strong global exporting presence, particularly in areas like agriculture and technology" so the state probably didn't want to miss out on the potential economic development prospects associated with BRI, he said.

"China has not yet launched a unified framework for regulating systemically important financial infrastructure, but efforts are being made toward this direction," said Yin Zhentao, a researcher at the Chinese Academy of Social Sciences' Institute of Finance and Banking.

"China has no intention to challenge the international standing and interests of any other country or the existing international order and system," the ambassador said.

"But perhaps Europe should first pay its fair share of NATO, which the US subsidizes greatly!" he tweeted.

"China has a culture and system that has worked well for it for a long time, so it shouldn't be expected to change much; the US has the same; these systems (and those of other countries) will be both competing and cooperating, and how well they do that will be an important influence on global conditions."