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"China is transforming from a manufacturing giant to a world manufacturing power, but manufacturing sector development is unbalanced along the value chain. Small and medium-sized enterprises need to improve their production efficiency and management models, as well as reduce their manufacturing costs," said Xu Lihong, CEO of A.BRAIN Research Institute of Intelligent Manufacturing.

"China delivered through China's engagement in the international economy, cheaper goods to the world which we all benefited from. Our living standard in Australia has been lifted dramatically through this process," he added.

"China has a great potential to expand domestic demand in city clusters and metropolitan areas, as a growing number of middle-income consumers will further stimulate demand by taking more flights. Besides, the urbanization rate is still low and development in different areas is uneven, and there exists untapped demand," she said.

"China is willing to dovetail the development strategies with the Maldives and share opportunities to realize common prosperity," Xi said.

"China is still a developing country. Its development needs World Bank support, and the Bank's development also needs China's contribution," the Ministry of Finance said on Tuesday.