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"But the outlook will be more challenging this year as banks are asked to lend more to private enterprises and at lower rates," she said.

"China has a population of 1.4 billion, with 4 million new cancer cases arising annually, but around 90 percent of innovative and patented cancer drugs in China are imported, and highly-priced," he said.

"China has created in the past 20 years many potential advantages, and it is starting to use some of them. But I think it can use those advantages much more quickly and strongly, particularly in the energy sector. China is in a good place to put these advantages to work," he said.

"China always sticks to equal and fair principles when purchasing 5G telecom equipment. We never preset the market shares for domestic and foreign enterprises," Miao said.

"Chairman Kim has told us he's prepared to do it, and now the mission is to deliver on that," he added.