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"China has achieved over 60 percent urbanization. The figure will reach 70 percent to 80 percent in the future, and the cities' size will only grow bigger and bigger, presenting challenges in their management and operation," he said.

"China market has bounced back from the impact of COVID-19 better and faster than we have expected, which provides huge opportunities for us. China market is now expected to be our fastest growing overseas market," added Hitchcock.

"China is our No 1 trading partner for goods or services. Over the last several years, our economic ties and cultural ties have grown very quickly," said Paling, who noted that the bilateral relationship is much more than just about trade, but also about cultural exchanges between people of the two countries.

"China can help the international community overcome several of the major challenges facing the global economy," including providing debt relief to low-income countries and sustainable financing for global infrastructure investment, said IMF First Deputy Managing Director Geoffrey Okamoto, following his policy discussions with Chinese monetary authorities and financial regulators.

"By then, we will be one of the world's top 30 container ports," he said.