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"Climate change causes more intense weather and the increasing likelihood of catastrophic fire conditions. Weather is the overriding factor affecting fire behavior under catastrophic conditions, when everything burns," he said.

"China represents one of the largest opportunities for many of our clients and JP Morgan. It is a critical component of our growth plans, globally and in Asia. We have strong ambitions to strengthen our position in this very important market in order to better serve our clients and the local community."

"Compared with the last Great Recession caused by the 2008 global financial crisis, what makes the recession this time so 'grand' is not just in terms of how many jobs we're going to lose, but results from the fact that we're going to be led to a historical turning point in terms of geo-economics," he warned.

"China will definitely lead the world on many environmental issues ... and it is still a major supplier to the world economy. So you can imagine its power to move markets and change behavior when the country decides to go green."

"China welcomes foreign businesses to invest and develop in China. And we will continue to unswervingly expand opening up, create a more open and business-friendly environment and protect the legitimate rights and interests of foreign investment," Meng said at a news conference in Beijing.