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"China aims to tackle the problems of inequality, exclusiveness and inefficiency in the previous globalization process and provide better global governance products for the world," said Fan Yongpeng, an associate professor with the China Institute of Fudan University.

"Cars were nothing more than tools that transported people from point A to point B," Cao said.

"China is the third-largest pet-owning country in the world, and China's pet industry is growing rapidly," said Christoph Vetten, head of Bayer Animal Health Greater China, during the launch of its flea and tick collar product Seresto in Beijing in March.

"Changes are coming so much faster these days than in the past. By the time you finish analyzing all the data you're given, it's too late to act," he said, adding that qualified leaders should be able to act in an environment of imperfect and incomplete information while quickly correcting the mistakes they have found in the decision-making process.

"China has made big strides in fostering a better business environment," said Sheila Xu, associate director of global business development at TMF Group, a leading global professional services firm.