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"Corporations have to pay tax and avoid illicit financial outflows. Governments have to close tax loopholes which rob the poor of the money required for healthcare, education and development," she said, noting that Africa loses over billion per year in illicit financial outflows.

"China's process industry is catching up to the rest of the world in terms of sustainable, high-quality development, yet many companies don't know how to well structure the strategy to execute it," said Chen Yan, vice-president and general manager of Honeywell Process Solutions, China.

"China's economy is expected to post steady growth in 2018 thanks to the continuing structural reforms, simplification of administrative procedures, and implementation of an innovation strategy, but potential risks in the economy should also be monitored," Yi said.

"China's economic development is a huge opportunity for Japan and the world," Abe said. "It is welcomed," he added.

"China's remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty," noted Hoon S. Soh, World Bank Program Leader for economic policy for China.