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"Compared with 10 years ago, startup founders today tend to have a global perspective. So they are willing to learn what's happening outside the US," said Zhang. "A great company in the future must be a globalized one."

"Chinese auto exports are recovering after years of decline, with Egypt being one of the biggest export destinations among the Arab states since 2015," said Wang Xia, chairman of the Automotive Industry Committee of the China Council for the Promotion of International Trade, in his speech on Thursday at the conference held in the Ningxia Hui autonomous region.

"Consumption now contributes more than half of China's economic growth, and the domestic market is growing faster than that of many developed economies," he said.

"China's economy is shifting from the phase of rapid growth to a stage of high quality development. It is acceptable to see the growth surge or dip slightly, as long as we see the increase in residents' incomes, the improvement of the ecological environment and high-quality development," Yuan added.

"Current information regarding the origin of the virus is very limited and difficult for non-experts to digest," he said.