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"China is the world's second-largest economy and the axis of the global demand for goods. That's why the expo is of enormous importance -- the further opening-up of China's economy," said Castro.

"But such merits are selectively ignored in many debates," Ban said, adding that he hopes Asian countries and business leaders can work together in the context when the world is facing such long-term challenges and near-term uncertainties, so as to give hope to the world and become a global growth engine.

"China has an ambitious plan to achieve high-speed tech targets by 2050, and I think they would accomplish it before this date," he said.

"China has the power, willingness and mindset to help others, and that's why I am here," Banerjee said. "I want to make this institute an internationally prominent one in geophysics and a regional leader if I become the next head."

"But, to be clear, we do not see a recession in the near term. In fact, we expect some pickup in growth in the second half of 2019 and into 2020," she said, adding that the growth is set to benefit from the now more-patient pace of monetary normalization by major central banks led by the US Federal Reserve and "from increased stimulus, in China for example".