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"China has a population of 1.4 billion, with 4 million new cancer cases arising annually, but around 90 percent of innovative and patented cancer drugs in China are imported, and highly-priced," he said.

"China is a world leader in online payment and personal credit system establishment and even the US and Europe should learn from Chinese experiences," Wang added.

"China is fast becoming a global hub for innovation, particularly in the field of AI," said Zhu Wei, senior managing director and chairman of consultancy Accenture China, adding that Chinese companies have demonstrated great determination to digitize their organizations amid the current complex business environment.

"China now imports around 10 million tons of steel products annually from other countries, and a large proportion of these imports belong to the special steel sector," said Ma Li, chief researcher at the Lange Steel Information Research Center.

"China is a golden opportunity in Panama's diplomatic history."