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"China's economic growth and poverty alleviation since 1978 is unparalleled, making a profound contribution to regional growth and development," Ciobo said.

"Covering not only the healthy groups but also people with mild diseases, the new program aims to better fulfill our mission of protecting hundreds of millions of families and taking on more social responsibility," Shen Peng, founder and CEO of Waterdrop Inc, said at the launch ceremony Wednesday. "With great strength and rich experience, we're confident to fend off the risks of high payout."

"Compared with 10 years ago, startup founders today tend to have a global perspective. So they are willing to learn what's happening outside the US," said Zhang. "A great company in the future must be a globalized one."

"Currently, there are about 3,000 foreign permanent residents and a larger floating foreign population in Tongzhou. Many of them said procedures for immigration services have been simplified in recent years," an officer at the Tongzhou center said on condition of anonymity.

"Currently, many CapitaLand's projects in China's southern, western and eastern cities are related to urban renewal. To date, our company has faced greater challenges, including those from global economic uncertainties to local policies on real estate development. We think a closer relationship with both government and business partners will help tackle those problems," Loh said.