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China is ramping up efforts to speed up the construction of "new infrastructure" as part of its push to transform from an investment and export-driven economy to one powered by technology.

China is likely to see a record number of initial public offerings next year. [Photo/Sipa]

China is training more child welfare directors and strengthening its child welfare system in an effort to protect the country's children from violence and abuse.

China is also playing a leading role in terms of "preventing the rejection of an open international economic order" through initiatives and projects such as the Asian Infrastructure Investment Bank and the Belt and Road Initiative, according to Goldstein. On global issues like climate change, "China can't do it alone, but I do think China, sticking with this path, makes it more likely that eventually even the US will come back to the consensus on climate change", the professor added.

China has seen continuous improvements in its air quality, with concentrations of PM2.5 particulate matter down by 10 percent in 337 cities across the country in the first half of this year, according to the Ministry of Ecology and Environment. PM2.5 refers to particles with a diameter of 2.5 micrometers or less that can invade even the smallest airways.