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"Certainly, first and foremost, it is getting on top of the virus and getting people back into a more normal pattern of work, but the social safety net was also extraordinary," Winters told CNBC's Geoff Cutmore on Wednesday.

"China is probably more advanced in this capability than any other markets. But these opportunities are starting to grow in other markets. So by engaging here in China and learning how to do it here, we are going to export the learning to other markets so that we can be among the first in those markets," he said.

"By its own example, the country proves the possibility of a fairer, more developed and safer world," Novikov concluded.

"By using its full digital traceability system and digital tools such as smart sensors, visual inspection and auto monitoring system to improve quality control, Danfoss CC Tianjin factory has improved labor productivity by 30 percent and reduced customer complaints by 57 percent within two years," the WEF announcement stated.

"China is transforming its economy into one driven by consumption, services and innovation and many industries in the two countries, particularly the services sector, can complement each other's advantages," he said.