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"China attached great importance to opening up the service sector and boosting the service trade. Trade-in services are becoming a new driver for high quality economic growth."

"But to participate in China they will have to be competitive in China and being competitive in China means being as innovative, as productive and digital as Chinese enterprises are," Woetzel said.

"By upgrading the industry through technology, we are effectively improving the quality of the product," said Zhao Zhenrui, director of the information and automation department at Tangsteel.

"China is advocating the peace, economic development and shared prosperity by launching mega initiatives like the Belt and Road Initiative," he said, adding that as a neighboring country, Nepal can learn a lot from China's experience of reform and opening-up for the past 40 years.

"Chile is growing well in the market, due to a good price point and customer preference. For Chinese consumers, Chilean wines are highly cost-effective. In the past few years, Chilean producers have also reacted well to consumers' preference, such as introducing good design and packaging options," he said.