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"COVID-19 is a big threat to humanity and we all need to contribute to the joint fight in one way or another," he said.

"By sacrificing the increase of fiscal revenue, we gain enterprise performance and market vitality," Xiao said. "This is the core of implementing policies of cutting taxes and fees."

"China has strengths in production. Today China focuses on production within China and export of those products, but now with the initiative, it is a good opportunity for Chinese companies to invest, for instance, in Spain and produce in Spain with Chinese technology," said Francesc Sanchez, general director of the Port Authority of Valencia.

"But we need governments, international financial institutions, and the private sector to work with us to take full advantage of these advances," he said, listing four ways philanthropic capital can be used.

"But the number of people of working age still stands at almost 900 million, and around 780 million are employed."