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China is shifting to become one of the leading innovators in the world, thanks to an increasingly educated workforce and a growing economy, and there are many opportunities for companies from the United States and China to develop global partnerships and new, innovative ways to grow market share, said Gary Shapiro, CEO and president of the Consumer Technology Association.

China is expected to overtake the US in terms of total number of vehicles by the end of this year, said Cai Ronghua, a senior official at the National Development and Reform Commission, during a media briefing in April.

China is expected to replace South Korea as the world's largest flat-panel display producer this year, according to a report from the China Video Industry Association and the China Optics and Optoelectronics Manufacturers Association.

China is stepping in to stabilize economic growth by pushing the fiscal policy "more proactive", which is required to coordinate with a prudent but more flexible monetary policy, according to a series of high-level government meetings during the last two weeks.

China hopes the United States can join efforts with the country to explore appropriate ways to promote cooperation and resolve differences between the world's two largest economies, the Ministry of Commerce said on Thursday.