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China has started serious re-balancing by cutting excess capacity in the steel and coal sectors, where it has the highest output in the world.

China is ready to work with ASEAN to construct the Belt and Road and implement the Master Plan on ASEAN Connectivity 2025 under the guidance of the China-ASEAN Strategic Partnership Vision 2030, Han said.

China is in the midst of a widespread opening up of its domestic economy to foreign participation. It is further opening up its financial services markets, vehicle manufacturing, oil and gas exploration and so forth. In most sectors, foreign companies will be allowed 100-percent ownership. Plus, China has been strongly increasing its means to enforce intellectual property rights. Both the law and China's top leaders guarantee that foreign companies will not be forced to transfer technology.

China is pushing the PPP model to reduce government debt burdens and improve efficiency, but has only seen a tepid response from private businesses, partly due to low returns and difficult risk control.

China is expected to account for more than 100 billion yuan (.47 billion) in the big-data distribution and exchange market by 2020, said Han Han, director of the Engineering Research Center for Big Data Circulation Compliance Assessment. This will come with the support of the National Engineering Laboratory for Big Data Distribution and Exchange Technologies.