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"Further opening up the banking and insurance sectors is not only essential for the development of Chinese economy and finance but also is conducive to enriching market entities and stimulate market vitality," Guo said.

"First it was the rail lines back in the 1800s, everything was dense and walkable, we built highways, all the developments followed in a low-dense, spread-out format," he said.

"Globalization is a good thing for the world and good for billions of people," he said. "What you do in globalization is you are specializing skilled people and then we trade, exchange and manufacture."

"Hainan will become an important meeting point for talents, logistics and capital flows, and then become an important node for global resource allocation. In the past six months, well-know enterprises at home and abroad, such as Swiss Re Group, Temasek Holdings, Alibaba Group Holding Ltd, Baidu Inc, came to Hainan, bringing numerous good jobs to young people," Shen Xiaoming, governor of Hainan, said.

"For us, it was crucial because we had the opportunity to have personal protective equipment and medical equipment that was indispensable ... While the rest of the world attended to their own domestic problems, immediate support from China was very important," she added.