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Wang Xujin, dean of the Insurance Department at Beijing Technology and Business University, said that China is now in the process of optimizing its market economy system, and accelerating insurance sector opening-up. "There is unlimited potential in the sector," Wang said.

Wang said in the field of telecommunication, Kuwait is developing high-speed internet service and smart cities, areas in which Chinese companies are also experts.

Wang Tao, chief China economist at UBS Securities, said the People's Bank of China, the central bank, may cut the reserve requirement ratio by another 150 basis points before the end of this year and conduct open market operations such as using the medium-term lending facility to increase liquidity.

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Wang said China and Russia support each other over major international issues, which makes an important contribution to global stability and the establishment of a new type of international relations as well as a community of a shared future for mankind.

Wang Xiaofeng, founder of Mobike, said that the company has been committed to innovating its business model, product and technology. Focusing on facilitating public travel and traffic planning, Mobike will pave its way to entering the global market, Wang added.

Wang Weizhong, Party secretary of Shenzhen, pledged to keep opening up and optimize the business environment, including cutting procedures of government affairs and safeguarding information security.

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Wang Jun, head of the State Taxation Administration, said at a meeting on Tuesday that cutting taxes and fees should be further implemented, although "it is a heavy task". The administration will also crack down on tax fraud in the subsequent months.

Wang said the key to success in the pen business is to position the brand image.

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Wang made the remarks when meeting with his Kyrgyz counterpart Erlan Abdyldaev on Wednesday in Beijing. Abdyldaev attended the SCO foreign ministers' meeting in Beijing on Tuesday.

Wang also said at a joint news conference after he chaired the first China-Afghanistan-Pakistan Foreign Ministers' Dialogue in Beijing on Tuesday morning that the corridor does not target any third party.