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"Challenges and competition can only make strong companies stronger," Wang said. XCMG converted the slump into an opportunity to review its weaknesses and come up with corresponding solutions.

"China is a huge market for rabies vaccines, and many manufacturers tap into the market," he said. "Not all producers hold themselves to high standards."

"China Shipbuilding Corp will uphold national strategies about building strong marine and manufacturing industries, boosting science and technology, developing the military into a world-class force and transforming the company itself into a top-tier enterprise," the statement said. "We will strive to become a top-class shipbuilder with a competitive edge in the global market."

"Certainly, discussions are continuing with China on moving forward on various trade opportunities," Trudeau said in an interview with The Globe and Mail before attending the forum on Monday afternoon.

"China and Britain both have a broad consensus in upholding free trade, supporting economic globalisation and improving global economic governance, and our cooperation in these areas has been effective," Liu said.