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China has made astonishing achievements over the past several years and continues to be the world's model, especially for developing countries, said Francis Gurry, head of the UN's World Intellectual Property Organization, on Thursday in Beijing. He added he hopes the country can continue to lead emerging and developing economies to bridge the gap in world innovation. He added, given the scale and China's progress, the country will continue to take a leading position in world innovation and have real influence.

China has made major breakthroughs in the IoV, with initial progress made in constructing demonstration zones and industrial ecosystem development, according to Wang Weiming, a senior official with MIIT.

China had seen a V-shaped economic recovery in the second quarter, with a year-on-year GDP growth rate of 3.2 percent. But the recovery is somewhat unbalanced as the rebound in supply is much faster than demand, which means accommodative policies to support recovery over the coming months are quite important.

China has made steady progress in urbanization, as permanent urban residents amounted to 831 million at the end of 2018, up by 17.9 million from the previous year, according to the National Bureau of Statistics.

China has been the world's largest vehicle market since 2009, with passenger vehicles as the mainstay. However, their sales have been falling since 2018, due to factors including limited license plate quotas in affluent metropolises.