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China is stepping up research and development of the Tianhe-3 supercomputer, which aims to be 10 times faster than the current world leader, as it strives to meet the country's growing needs for more accurate and efficient computing capabilities.

China is following the pattern established by Japan. What's remarkable in China's case is that it is taking far less time to undergo the same transformation.

China has set itself the target of installing 5 gigawatts of offshore wind capacity by 2020. The UK, already a world leader in offshore energy with 5.1 gigawatts of capacity, plans to grow its holding to 10 gigawatts by 2020.

China hopes the US business community will seize the opportunities brought by its booming economy and opening-up to strengthen cooperation with Chinese partners, Ning said.

China is being forced to react to protect its legitimate interests but in doing so it is also championing rules-based trade, as the Trump administration has resorted to domestic laws to target Chinese goods with tariffs, a move that runs roughshod over the international trade rules of the WTO.