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"But there are also many problems, like blindly building theme parks and shopping galas that are all alike, or turning tourism-related businesses into real estate projects. Going forward, villages and counties like Xihewan and Tianpudawan can cooperate with institutes and universities, as well as companies, to leverage various sources for better development," Zhou added.

"But to participate in China they will have to be competitive in China and being competitive in China means being as innovative, as productive and digital as Chinese enterprises are," Woetzel said.

"Cars are getting more advanced, they need higher quality fuel that can meet the environment requirements. We can help on this."

"China is of strategic importance to Standard Chartered. We are honored to be the first international bank to be granted this license," said Bill Winters, group chief executive of Standard Chartered.

"COVID-19 has connected us and made us re-examine our responsibilities, both as individuals and as businesspeople," said Yu Xubo, president of the centrally-administrated State-owned enterprise.