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"China's R&D expenditure as a proportion of revenue from principal business by sector has increased continuously in the past decade. The Made in China 2025 plan will further stimulate innovation of Chinese companies," Yuan said.

"City-specific measures are taking effects continuously," said Liu.

"Commercial banks should not overlook the importance of digitalization, including fintech and big data, with which they can advance the transformation of their retail banking business," he said.

"Currently, China's image in the public opinion of many foreign countries doesn't match its national strength as a non-negligible rising economic power. Chinese media can play a big role in correcting some countries' misperceptions of China and tell what's really going on in the country to the rest of the world in a timely and comprehensive approach," Zhao Qizheng, dean of the school of journalism at Renmin University of China, said during the forum at Shanghai International Studies University.

"Climate change causes more intense weather and the increasing likelihood of catastrophic fire conditions. Weather is the overriding factor affecting fire behavior under catastrophic conditions, when everything burns," he said.