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Companies of all sizes can stimulate the enthusiasm and creativity of employees through encouraging mass entrepreneurship and innovation, an approach that will raise their core competitiveness, according to Li.

Chinese Ambassador Hong Liang expressed his belief that increasing investment from Chinese companies would help Myanmar promote the development of many sectors such as education, health, natural disaster response and poverty reduction.

Also at the summit, Li said peace and stability remain the themes of the times, yet he also warned of notable instability and uncertainties. He added that the global economic recovery is not well established, regional hotspot issues flux and reflux, and non-conventional security threats, including terrorism, continue to spread.

"Properly positioned, BRICS can facilitate the continuing emergence of the largest developing countries to participate fully in a new kind of global governance, which humanity so badly needs in the 21st Century," said Kuhn.

"The industrial internet is a new concept that matters to the whole world," said Han Xia, an MIIT official. "Compared with developed countries, China still lags behind."