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"Engaging and cooperating with China is both an opportunity and necessity," Michel was quoted by media as saying.

"Employers should avoid wasting useful resources like middle-aged and elderly labor force. Instead, they should keep, retrain and recruit older employees, and provide tailored and long-term opportunities to study, so that companies can fulfill their labor demand," he said.

"Discussion at the meeting has been quite candid, and I feel that other representatives have been quite straightforward with their suggestions on the draft of the report," said Xing Ziqiang, an economist from Morgan Stanley China who attended for the first time. He suggested that more focus should be placed on the consumption potential of China's third-tier cities and lower.

"Data has become a new factor of production, but exploration of data value by human beings is still confined to a few service industries such as finance and retail. We have just started in the fields of agriculture and industry, and have a long way to go," Chen said at the ongoing Boao Forum for Asia, in Boao, Hainan province.

"Data centers, as the basic infrastructure of cloud computing, are an indispensable part of the big data industry chain. It is also a new infrastructure that is supported by the country currently," Chen added.