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"Growth is also being weighed down by country-specific factors in several emerging market economies, and structural forces such as low productivity growth and aging demographics in advanced economies," Gopinath told reporters at the IMF headquarters.

"For two years, theoretically, we have donated a couple of million dollars to this project,"said Thomas Costanzo, senior vice-president and director of leasing for Fosun Property Holdings. "It's a wonderful way to give back to the community and to show our passion for the arts and music.”

"For the development of Binhai New Area, technological innovation and green lifestyle are the priority. We aim to build a smart city for all, so that people can share the benefits of technological advancement, and enjoy the beauty of nature at the same time," Zheng Yi, general manager of the Tianjin Binhai-Zhongguancun Science Park operation service company, told People's Daily Online.

"Following four decades of high growth and poverty reduction, China has entered a new stage of development," as it seeks to address development challenges to ensure a high-quality and sustainable growth path, the World Bank said in its newly released Country Partnership Framework (CPF) for China for fiscal year 2020 to 2025.

"Guizhou's abundant bauxite resources have given the province an edge in developing aluminum production. We are also working to bolster a better business environment for investors with supportive policies and better infrastructure. The goal is to make Guizhou a national hub for aluminum production," Ma Lei, head of the Guizhou Investment Promotion Bureau, said in remarks on behalf of vice-governor Lu Yongzheng at a recent industry forum.