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"China is a top priority for Levi's and we see a huge potential and a huge long-term opportunity. In China, our performance was positive but it remains far from its potential. With China expected to be the top luxury market with over 40 percent of the global consumption by 2025, we are very excited by the opportunity," Yang said.

"But we need governments, international financial institutions, and the private sector to work with us to take full advantage of these advances," he said, listing four ways philanthropic capital can be used.

"China now takes the lead worldwide in terms of hardware facilities. And we still enjoy an abundant supply of human resources. But we still need to learn from Japan and South Korea for their advanced management methods. It is only with an open attitude that we can see a win-win situation."

"China is already a leader in e-commerce in many ways, especially in online payment that enables consumers in big cities to pay with mobile phones. Everything from supermarket shopping to utilities and taxi fares can be paid via an e-wallet," he said.

"China is already a global digital economy, and it is going to have a greater impact on the global digital world," said Jonathan Woetzel, senior partner at McKinsey.