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"But some cultural stigmas, such as misunderstanding of donations from the rich, and policy restrictions related to taxation and foundation registration, have hampered their activities," Deng said.

"China is a surging power of global innovation. Airbus is embracing the innovative talents and inspiration of China, which are crucial for our win-win cooperation," said George Xu, CEO of Airbus China.

"By gathering capital elements and financial resources, the conference is expected to attract domestic and foreign investment firms in driving Wuhan's economic recovery and also offering a lasting impetus for local innovation and high-quality development," said Fang Jie, deputy secretary-general of the Wuhan government.

"China is more aggressive than anybody in developing smart cities. We see the three main drivers in the ecosystem, which are intellectual capital, emotional capital and financial capital," said Dana Magenau, managing director of UC Berkeley executive education.

"China is everywhere in the media today. Being a player globally, China grows rapidly," said Beck, who was Canada's consul general in Shanghai in 1999, when Shanghai's development was beginning to take off.