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China is also increasing its focus on wastewater management and drinking water solutions. There are very strict requirements to be met for these areas, and Xylem is well-positioned to help the authorities come up with solutions.

China is seeking to bring various financial institutions, international enterprises and funding sources together to get projects rolling in economies involved in the Belt and Road Initiative, said senior executives at Standard Chartered Bank.

China is the world's biggest vaccine producer and has more than 40 vaccine manufacturers that produce 63 kinds of vaccines - with an annual production of about 1 billion doses - that can prevent 34 diseases, according to the CDC.

China is still in an important period of strategic opportunity for development. The prospects are bright but the challenges are severe, he said.

China is a strong nation, and it's to the ASEAN's benefit to find a win-win solution, he said, adding that down the road there will be a solution, a solution that is in the "ASEAN way."