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"Chinese consumers prefer complex and multifunctional products, compared with those in Europe and the United States, who like simpler ones. They also prefer red," he explained.

"Chinese colleagues are like our brothers, we take care of each other," said Hosam Alghamdi, a Saudi manager of the public relations department of YASREF. "The company is more like a cultural integration rather than just business cooperation."

"Companies listed in Hong Kong show a higher quality in the standard of their reports, partly due to the requirement of the Hong Kong Stock Exchange," said Yin Gefei, chief advisor of China WTO Tribune and chief expert of GoldenBee CSR Consulting.

"China's rejection will only push the global waste recycling technologies to make breakthroughs," he said. "Yet, for some countries that habitually export solid rubbish to China, it is hard to accept this reality."

"China will not close its doors and will open even wider," Xi said, adding that foreign companies will find China's market "more open, more transparent and more orderly". The large population remains a bonus of China's economy and Chinese market potential is great, he said.