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China, as the world's leading car market, also boasts a competitive edge in manufacturing, said Baldeon, which "translates into better pricing conditions, and along with permanent innovation, they guarantee a good reception not just in Ecuador, but in international markets."

China, Park said, has recently become the world's "innovation lab", as the country is leading the development of innovative industries, such as artificial intelligence, cloud computing and internet of things.

China's pilot drug procurement program, covering 11 major cities, will cause pharmaceutical companies to adjust their strategies but will prove beneficial to the sector in the long run, said industry insiders.

China's retail sales－a measurement of consumer spending－increased 9 percent year-on-year to over 38 trillion yuan (.64 trillion) last year, making it a driving force to China's GDP growth, which came in at 6.6 percent last year.

China's top market regulator is to cancel or relax 106 items that need government approval when businesses apply for operating permits, as part of reforms to reduce red tape and create a better environment for enterprises.