"We should not expect China's exports to jump this year amid a sub-par global economic recovery, while imports this year may surge. But if China can use its huge foreign exchange reserves to purchase advanced equipment, it can help bolster economic growth and improve the country's global competitiveness," said Liu Zhibiao, an economist with Nanjing University.

Greater sway in setting rules

In addition to buttressing exports, one of the three engines of a nation's economic growth, China is also aiming to take a more active part in setting investment and trade rules.

Gao said that China and the United States have "basically completed" negotiation on their widely-scrutinized bilateral investment treaty (BIT), which "will have significant implications for global investment rules".

China is also pressing ahead in negotiations over similar treaties with the new European Union (EU) leadership. Gao revealed that the Chinese side has recently received a written proposal from the EU, and that it is busy translating and evaluating before responding.

"The China-U.S. BIT is of particular importance, as it means both countries are mapping out investment rules together and China is providing vitality to the changing world economic and trade landscape," said Zhou Hanmin, an international law expert.

China will accelerate talks over free trade areas with Japan and the Republic of Korea, built on the newly-signed China-ROK free trade agreement (FTA). The country also eyes wrapping up talks for an updated version of its proposed free trade zone with ASEAN countries by the end of 2015, according to Gao.

"We are endeavoring to build a high-standard FTA network globally," the minister said.

China's efforts are testimony to its resolve to climb the global value ladder and tap into development opportunities in the new round of economic globalization, said Liu.