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Noting that more than 70 percent of technological innovation in China has been brought about by middle and small-sized enterprises, Liu stressed equal treatment of state-owned and private businesses, strengthened intellectual property protection and increased financial support for middle and small-sized companies.

But GDP growth is not China's only concern, as Schwab put it, China has also realized the importance of improving people's lives and protecting the environment.

Based in Hainan Resort Software Community (RSC), the zone includes a blockchain research institute, which officially opened Monday and was jointly established by RSC and University College Oxford Blockchain Research Centre at Oxford University.

At the ceremony to sign the memorandum, Suprun expressed her gratitude to China for the donation, saying it would help Ukraine deliver better and faster emergency care.

The CCECC finished the Kolasin-Kos railway rehabilitation project in Montenegro last year.