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"China's central bank will likely maintain the current policy to allow the yuan's exchange rate to move at a reasonable level," said Yeung. "China will not and has no intention to push for competitive depreciation."

"Cultural events and performances have created many jobs, and it is a good way to lift people out of poverty," said Norbu Tsering, an official with the Tibetan Department of Culture.

"China's growing demand for high-value products, especially automobiles and home-related services, offers many growth points," says Peter Tyroller, a board member at Robert Bosch GmbH responsible for the Asia-Pacific area.

"Contacts between the cultures of East and West really began in Macao," said Nicholas Platt, a former US ambassador, who spoke at the event.

"Currently, private businesses create 80 percent of China's jobs, but only share 20 percent of the social resources. The president's speech shows that the private sector is an important part of China's economy and the country will continue to support the development of companies in the private sector," Dai said.