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"Eighteen areas, including the Guangxi Zhuang autonomous region and Sichuan, Yunnan and Hunan provinces, have implemented hospitalization insurance that covers more than 400,000 families who lost their only child," Yao Ying, deputy head of the association said at the gathering.

"Demand for highly talented employees now exceeds supply in most mature economies and as a result, job openings are more difficult to fill while in some regions labor costs are accelerating."

"Environmental authorities nationwide handed down 124,000 punishments and fines totaling 6.63 billion yuan (0 million) to businesses for environment-related offenses last year, up 28 percent and 56 percent respectively," said Minister of Environmental Protection Chen Jining.

"E-commerce penetration in Southeast Asia is only roughly 3 percent, so the partnership is a great step change," he added.

"Dialogues in order to create mutual understanding are more necessary than ever before because we have to look at how in a world in which we do not necessarily share values, we share at least common interests," said Schwab, who founded the forum in 1971.