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"But most producers don't have enough money for their R&D work. With the support of the fund, domestic suppliers can bring in more advanced technology from abroad through investments, and mergers and acquisitions," Lin added. "This will in effect help domestic companies to grow faster and produce more competitive products."

"Children have now become taller after their lives have improved, compared with the lives their parents and grandparents had decades ago," Wang said.

"China contributed to the global wage growth," said Su Zhongxing, dean of Human Resources Management at Renmin University of China. "China has a large labor population. What's more, its wages grew rapidly in recent years. These factors obviously will help the world's average wage rise."

"China is making its own business innovations over the past decades. Umpteen businesses, such as online education and food delivery companies, are emerging in the country every day," said Liu Chang, founder and CEO of 17Edtech.

"China has to compromise in some areas, the US will have to compromise on others. What the EU and to some extent Japan are trying to do for the moment is talk to the US, talk to China, so at the end of the day everybody is around the same table."