'Lehman moment' unlikely in China, according to former Fed head

But he also sounded a note of caution on the trend of "the Internet of Things", saying it is already showing signs of being a bubble, with too many companies jumping on the bandwagon and too many people changing their lifestyle too randomly in an unprecedented way.

The local panel session featured a Business Case Study presented by WBF media partner China Daily, where Wilfred Wong Ying-wai－chairman of the Asian Film Awards Academy and Hong Kong International Film Festival Society－spoke about the Asian industry and the bright future offered by collaboration with Hollywood.

"Unless China also collaborates with the world, it is not going to be able to elevate or bring up the standards of its movies, and the quality of appreciation and tastes of its audience," Wong said.

Speaking at the WBF on Wednesday will be three-time Oscar-winning Hollywood director Oliver Stone, marketing and new media strategist Mohanbir Sawhney, customer-focused business expert Don Peppers, and negotiation and leadership specialist George Kohlrieser.