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China is making very large investments in transportation infrastructure, social support and environmental protection that will improve lives in cities and spread prosperity to smaller cities and hinterlands.

China has the world's most active consumer market, and the new economic growth pattern of "dual circulation" will be the significant development strategy during the 14th Five-Year Plan (2021-25), Zeng said.

China has worked hard to analyze and pattern its developing industry after Hollywood's globally successful 100-year-old system. Building a multi-billion dollar industry from scratch is no easy task when it is subject to an ultrasteep learning curve, vagaries of the global market, cultural disconnects, creative challenges, et cetera.

China has second-most billionaires, with Hong Kong, Beijing, Shenzhen and Hangzhou ranking among top 15 billionaire cities, according to research company Wealth-X's latest Billionaire Census report on Thursday.

China is the world's largest EV market, with sales of new energy vehicles soaring 61.74 percent year on year to 1.26 million units in 2018.