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"China is a huge market for rabies vaccines, and many manufacturers tap into the market," he said. "Not all producers hold themselves to high standards."

"China has become a major global innovation promoter, which is gradually shifting focus from the quantity of innovation to the quality and influence of innovation," Li said at the launch of the Boao Forum for Asia Innovation Report 2020 on Wednesday in Beijing.

"China has an edge over many other countries in terms of promoting the development of open banking, since Chinese bankers are embracing change with an open mind," Wang said.

"China Development Bank has offered real economy funds totaling 16.6 trillion yuan for the past five years," said Chen. "Our non-performing loan ratio was lower than 1 percent for consecutive 49 quarters, showing that we have a world-leading risk control capability."

"China can provide Canada with low-cost products for the manufacturing sector in return," he added. "China's outbound investment has been increasing rapidly. If its investment in Canada is also on the rise, it will help to boost the local economy.