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"Government departments must be open-minded. Approval procedures are necessary, but they are not a panacea, especially in terms of compliance oversight. We should keep working on the application of the principle, which is that the responsibility for oversight rests with those who issue the approval and those who are in charge," Li said.

"Fiscal policy has always responded to large shocks but there is now a question about whether the threshold for intervention should be lowered."

"For the procurement system in China, we are requesting the Chinese government to give Indian drug companies access. We are very hopeful that Indian generic drugs will have a bigger market in China, at a more affordable price," he added.

"Financial reporting quality of overseas listed Chinese firms has improved substantially in recent years. It is nearly impossible to see a rather large batch of Chinese firms face short sell attacks as we saw in 2010 and 2011," said Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Science and Technology.

"Globally, there have been many famous Teochew enterprises, as well as entrepreneurs," Chen Younan, the federation's executive chairman, said at the forum.