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"China has very huge resources at its disposal and which have not been utilized to its optimum potential, and the fiscal resources will be used in its toolkit that will involve tax reductions and other bond issuance necessary for meeting the country's expenditures," Anwar said.

"China is probably the only country able to host such an event," said Roger Kornberg, a biochemist from the United States who won the Nobel Prize in chemistry in 2006 and addressed the forum via video link. "The challenges of bringing together 137 laureates of various prizes as well as a very large number of other participants and young people is a logistical nightmare and really almost impossible to accomplish. And yet, the leaders of this effort in China have succeeded and done a brilliant job."

"China is creating mega unicorns at a fast pace, and some of the leading companies are now as big as comparable US firms. For example, Tencent is as big as Facebook," said Harry Man, a partner and founding member of Matrix Partners China, a venture capital company founded in 2008.

"Changes are coming so much faster these days than in the past. By the time you finish analyzing all the data you're given, it's too late to act," he said, adding that qualified leaders should be able to act in an environment of imperfect and incomplete information while quickly correcting the mistakes they have found in the decision-making process.

"China deems breaking through key technology as a significant strategy. So far, Chinese enterprises have solved some problems in key components," the report said.