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"China has made tremendous progress in the culture and creative industry over the past 40 years — especially in the areas of design, fashion and modern art," Howkins said.

"China has a population of 1.4 billion, with 4 million new cancer cases arising annually, but around 90 percent of innovative and patented cancer drugs in China are imported, and highly-priced," he said.

"China has seen fast progress in power supply since reform and opening up. Yet the time needed for getting electricity and the accessibility still fall short of expectations, due to both institutional issues and inefficiency in the power system," Li said, "Power supply is critical to industrialization and rural modernization."

"China is a strategic market for us, with North Asia being a growth engine, growing faster than anywhere else in the world," said Masters.

"By the beginning of next year, we have to sell lots of 60-inch and 70-inch TVs, which are only sold in China or the US," he said. "For the sake of the company, we have to get big very quickly to support all the glass."