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"Even if you're not following Chinese innovation closely, Chinese innovators may come and knock on your door anywhere you are in the world and indeed lift the level of competition," Vijay Vaitheeswaran, an award-winning senior correspondent for The Economist, said at the event.

"Despite the drop, the balance of forex reserves remains above trillion," he said. "In an increasingly open economy like China's, the current fluctuations in forex reserves and the currency rate are well within the reasonable and affordable range."

"Didi will involve ofo into its own algorithmic model via artificial intelligence techniques and provide real-time travel options to users," said Neil Wang, China president at consultancy Frost & Sullivan.

"Due to the higher order numbers brought by the B&R Initiative, we have moved from being a traditional ship manufacturer to a high-end and high-tech ship builder," he said.

"Facing the increasingly competitive global economy, it needs to consolidate Hong Kong's competitive strengths including free and open market principles, good law traditions, efficient public sectors and stable systems in a bid to improve the metropolitan city's competence in the long run," Chan said.