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"Collaboration between development institutions is essential to make the best use of scarce resources, crow in the private sector, and meet the rising aspirations of the people we serve," said Jim Yong Kim, president of the World Bank.

"Chinese companies invest in Israel, funding Israeli technology, and find ways to make it global. I think the opportunities are endless," Uri Levin, CEO of Israel Discount Bank of New York, told Xinhua on the sidelines of the event.

"Companies need to focus on refined operations as well as seeking new ways to turn profitable. They should try to reduce the cost, improve the efficiency, improve the service offerings and provide better user experiences."

"China's remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty," said Hoon S. Soh, World Bank program leader for economic policy for China.

"China resolutely opposes the practice of using human rights as an excuse to interfere in China's internal affairs, and undermine the country's sovereignty and territorial integrity."