"We are extremely long on the medium and long term of the Chinese economy," said Bill Winters, Chief Executive of the Standard Chartered Bank on Thursday.

In terms of contribution to the world economy, there is no doubt that China contributes the most, he added.

His remarks came at the 2019 Bloomberg New Economy Forum held in Beijing.

Being a "frequent visitor" to China, Khaldoon Al Mubarak, group chief executive officer of Mubadala Investment Company, felt deeply the changes in China's investment environment. And for him, China's business environment has improved remarkably in the past five to ten years.

The World Bank placed China in the top 10 of the most improved economies list for ease of doing business for the second consecutive year in 2019.

Read more: How does GE view CIIE, China's business environment?

China's growth benefits the world economy

Chinese Vice President Wang Qishan noted in his keynote speech at the forum that China has never stopped integrating itself into the world, and every step China takes will be not only proactive but also calm and steady.

Chinese Vice Premier Liu He stressed the importance of the market and non-state players in an editorial published on Friday. Liu reiterated China's commitment to the market playing a decisive role in the economy.

In a discussion on the proper balance between a planned economy and market economy in China, Xie Fuzhen, president of the Chinese Academy of Social Sciences, said that from the governmental policy design level, China wants state-owned enterprises and private firms to be equal.

"It's the Chinese government's vision and job to create an environment that different economies can develop and compete on a level playing field, and that's what the Chinese government is doing," Xie added.

Trade and technology development

The trade disputes between the world's two largest economies were in the spotlight at the forum.

Former U.S. Treasury Secretary, Hank Paulson, said that "decoupled economies doom themselves to the multi-dimensional conflict". He spoke of the danger of a technological "Balkanism."

He urged the United States to eliminate barriers aimed at punishing Chinese firms, such as using national security rationale to impose tariffs on steel, and avoid blocking acquisitions of investments without national security risks.

Discussing whether technology creates or destroys more jobs, Parag Khanna, managing partner of Future Map, said that if technology is going to start destroying jobs, then it's a social policy issue. He continued that since the 1960s, the U.S. government has not invested in trade adjustment assistance. Trade adjustment assistance is the money that governments spend to retrain workers who have lost their jobs to technology or globalization.