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"China has deepened and widened the opening-up of its financial sector by issuing licenses to foreign investors, allowing them to establish wholly owned companies or take a controlling interest in joint ventures in major business segments of the financial sector. It means that foreign investors can make better use of what they put great emphasis on－their management capabilities and management authority," said John Qu, senior partner at McKinsey, at the 2020 Global Wealth Management Forum in Beijing.

"But to meet higher requirements of rural development, it needs a revision," Liu said.

"China is a vital part in HMH's global strategy," said Sam Bonfante, senior vice-president of HMH global markets. "VIPKID, linking 500,000 students and 60,000 teachers, is a Chinese innovation to combine education with technology."

"Challenges and competition can only make strong companies stronger," Wang said. XCMG converted the slump into an opportunity to review its weaknesses and come up with corresponding solutions.

"China is not aimed at challenging or replacing any country. It is committed to a new path of state-to-state relations, that values dialogue above competition and partnership above alliance," he said.