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China is undergoing a transformation from traditional manufacturing to smart manufacturing. Intelligent manufacturing will help improve production efficiency, increase added value, mitigate rising labor costs, and further enhance the market competitiveness of businesses, which has also created great potential for the development of the health care industry, the company said.

China hopes to work with all parties to boost the confidence of the international community in world economy and multilateral cooperation at the upcoming G20 summit in Osaka, said top Chinese diplomat in Japan.

China has set innovation as the core of it's 13th five-year plan (2016-2020), with the aims to become an "innovation nation" by 2020, an international leader in innovation by 2030, and a world powerhouse in scientific and technological innovation by 2050.

China is the second-largest user of the Panama Canal after the United States. The Panama Canal Authority recorded a total of 44 million metric tons of cargo moved to and from China through the canal during the 2017 fiscal year, accounting for 18.3 percent of the canal's total flow of goods.

China is also an important pillar of BMW's e-mobility plan. The carmaker said its electric iX3 SUV will go into production this year as scheduled at its plant in Shenyang, Liaoning province.