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"China's internet development has been an indisputable success. China's homegrown tech juggernauts, including 'BAT' or the top three firms, Baidu, Alibaba and Tencent, are undisputed leaders. A fleet of startups, such as Didi, Bytedance and Pinduoduo, have joined China's internet ecosystem and provided Chinese users with a whole package of leading services," Gambardella said.

"Chinese carmakers are going to complete the deployment process of Industry 4.0 in less than two years, while their German counterparts took five years," Hecker said in an interview on Thursday on the sideline of the forum.

"Chinese companies need to tell their story in a way that is suitable for the local culture and the understanding that local people in that market have of Chinese companies."

"China will continue to optimize its business environment, actively expand imports, expand foreign investment and contribute to the stability of the world economy," Guo said.

"Creating the right environment is important to us as we continue to attract, develop and invest in the staff we need to meet our digital ambitions," he said.