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"China has started relatively late in the development of commercial endowment insurance and thus lacks enough experience. It is important to learn from advanced experience worldwide, continue to open up our insurance sector, and in this process, develop our own commercial endowment insurance to meet the needs of an aging society," Li said.

"China is the world's largest electric car market with tremendous potential for further development. We are already working with strong and trusted partners in China, not only to enhance our local footprint but also to strengthen our competitiveness worldwide," Troska said.

"China follows its own path," he said, referring to socialism with Chinese characteristics.

"China is key to our future growth as it currently represents a quarter of our portfolio. The opening of Fraser Place Binhai Tianjin is significant as it underlines our ambitions to grow our presence in China," said Choe Peng Sum, CEO of Frasers Hospitality.

"China has come to a critical period of upgrading and transformation," Dong added. "The domestic consumer market is entering a new era driven by technology, high quality and services. The generation born in the 1980s and 1990s has become the main force of consumption, and those born in the 2000s will also become new consumption drivers."