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China has been gradually opening up its financial sector, with authorities pledging to ease caps on foreign ownership in Chinese banks and financial asset management companies.

"All countries should jointly shape the future of the world, write international rules, manage global affairs and ensure that development outcomes are shared by all," Xi said at Geneva, a place that has long been witness to the development of China's diplomacy.

Hunt, for his part, spoke highly of the achievements in people-to-people exchanges between the two sides in the past five years.

"Do the kids and their parents really understand what the disclosure means to their lives?" asked Ye Ying with China Association of Fundraising Professionals, describing the act as privacy infringement.

In the meantime, countries should also strive to eliminate poverty and promote common prosperity, Xi said, citing challenges such as the North-South development gap, poverty, hunger and digital gap.