Opening China up further to the rest of the world starts with dialogue. It's precisely the idea behind the third Understanding China Conference in Beijing that opened on Sunday.

Participants from across the globe gathered to talk about China's new growth drivers, and new opportunities for global communication and cooperation in the three-day event. They praised the strides the nation has made over the last 40 years. 

"There are a hundred miracles but one that I am most impressed by is China's success in essentially eliminating extreme poverty,” said Graham Allison, a scholar from Harvard University.

“In 1978, 90 percent of Chinese tried to survive barely with less than two dollars a day. Today, that number is only 1 percent," he said.

Experts hail the accomplishment for China and the whole world, with some hoping for more and deeper links with China. 

“I think we need to work more with sub-national levels, with the government to be able to build that level of understanding," Robert M. Hertzberg, a California senator said.

This year's conference coincides with the 40th anniversary of diplomatic ties between the People's Republic of China and the U.S..

And amid the current China-U.S. trade tensions, all participants expressed concerns, hoping that everything can soon get back on track. 

Dawn Nakagawa, executive vice president from the Berggruen Institute, said that sometimes, a crisis forces a dialogue and it seems it has in this case. 

She holds the view that following the fresh announcement of China's suspension of three-month tariffs on U.S.-made vehicles and auto parts, the next three months would significantly be important. She said there would be more discussions, negotiations and dialogues, and that may be an opportunity for things to get better.

Pascal Lamy, former WTO director-general holds that the right approach now is to sit around the table, and that's what Europe is trying to do, discuss how the WTO rules can be modernized and updated, and address concerns. Some say that all nations should pursue deeper cooperation, instead of confrontation. 

Former UK prime minister Gordon Brown said it is this inter-dependence based on global supply chains that the idea about a community of interest and shared future should be developed. This year's conference builds on the goals of the first two and shows China's wishes for the future.  

The conference hopes to convey a message to the world that China remains committed to reform and opening-up, and will stay firmly on a path of peaceful development and win-win cooperation.