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China has implemented three national economic censuses so far, conducted in 2004, 2008, and 2013 respectively.

China has fostered a very robust ecosystem, with rapid growth of small and medium-sized enterprises, said Neil Shen, founding and managing partner of Sequoia Capital China, an investor behind many Chinese tech giants and start-ups.

China has been strengthening the protection of intellectual property rights over the years. A total of 19,060 counterfeiting cases were solved by public security organs in the country in 2018, with nearly 28,000 suspects detained.

China has decided to make the "negative list" approach, which will open all sectors except a proscribed few to investors before the end of this year to streamline government administration and give more freedom to the market.

China has come closer to the long-standing leader -- the United States, which recorded a brand value growth of only 7 percent over the past year.