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China has already become the world leader in the fields of installed power generation capacity for wind power, hydropower and solar power, according to the China Electric Power Planning and Engineering Institute.

China has pledged a more proactive and effective fiscal policy in 2017 to support economic growth, with the fiscal deficit set at 3 percent of its GDP, or 2.38 trillion yuan, for the year, up 200 billion yuan from 2016.

China has now begun the steps required to join, including amending its laws. For example, a draft amendment of the Patent Law extends industrial design patent protection to 15 years from 10 years.

China has a large domestic market with diverse demands, which also enhances its ability to grasp the opportunities of the new industrial revolution. China is also promoting high-quality economic development and is committed to building a modern economic system.

China has also upgraded existing plants, to reduce emissions in the manufacturing process and slash their environmental impact. The cement industry contributes around 5 percent of global carbon dioxide emissions, according to the World Resources Institute.