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"Hami embroidery features classic Han designs, such as peony, fingered citron, lotus, chrysanthemum and plum blossom, coupled with distinctive motifs unique to the area," said Cui Jianbing, head of the Hami Cultural Center.

"Half helped their relatives and friends out of poverty and 10 percent brought the entire village out of poverty.

"Financial regulators' tolerance of higher NPL ratios for SME loans will also motivate commercial banks' lending," he added. "The challenge is how to precisely assess SMEs' financial risks and to prevent fraud based on limited information. Utilization of big data and advanced technology such as AI may be the key."

"From its home in China, the Annual Meeting of the New Champions has grown over 12 years to become the leading global event bringing leaders from government and business together with those from science and technology. I'm proud this year to be welcoming so many Chinese and international partners, many for the first time, as we look to find new ways for innovation to address our gravest challenges and to drive human and economic development," said David Aikman, chief representative officer for China at World Economic Forum.

"Foreign institutional investors believe that China will truly further open its capital markets this time. A growing amount of portfolio investment will enter the capital markets more actively after the risk associated with China-US trade friction is significantly reduced. This will lead to revaluation of assets in the country," he said.