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"For the winter sports industry it has been an important year as this year's expo is being held as part of the ongoing China International Fair for Trade in Services. We see this as a great opportunity to spread awareness about our industry and promote new products to more people. China has really made this huge opportunity possible despite the COVID-19 challenges," said Wilhelm, head of project management and engineering at Sanhe Doppelmayr Transport Systems Co Ltd, a subsidiary of Doppelmayr Garaventa Group, a global company engaged in ropeway research, development, and manufacturing.

"Governments can foster market-oriented development and broad-based growth by creating rules that help businesses launch, hire and expand," World Bank Group President David Malpass said. "Removing barriers facing entrepreneurs generates better jobs, more tax revenues and higher incomes, all of which are necessary to reduce poverty and raise living standards."

"For example, more than 600 engineering technical experts were assembled in Shanghai as the first national team of aircraft manufacturers for the development of the Y-10, a four-engine narrow-body jetliner developed from the early 1970s to the mid-1980s," he said.

"For private investors, this would also become a new and more stable way of investing," he said.

"From 2013 to 2016, the annual contribution rate of domestic demand to economic growth surpassed 100 percent, and the figure for the first half of 2017 was 96 percent. The potential of the nation's domestic demand is still very great," Ning said.