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"China helped us a lot in the modernization of Port Moresby," he said.

"China and South Korea are close neighbors and should cooperate and work together, both economically and culturally. To develop a modern economy, priority should be given to improving the quality of supply, while well-structured importing will be conducive to improving domestic production supply," said the Hyundai executive.

"China is working with African countries … in terms of foreign direct investment, in terms of trade, in terms of government assistance. China is also working with European countries as well as the Latin American countries," said Ethiopia-based Jalata, who is also a former consultant to the UN Economic Commission for Africa.

"By gathering capital elements and financial resources, the conference is expected to attract domestic and foreign investment firms in driving Wuhan's economic recovery and also offering a lasting impetus for local innovation and high-quality development," said Fang Jie, deputy secretary-general of the Wuhan government.

"China expects this year's meetings to focus on East Asia cooperation, jointly safeguarding multilateralism, maintaining free trade and international rules, and promoting regional economic integration."