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China is expected to give full play to its advantage of concentrating its efforts on major tasks to push forward research on core technologies in important areas, he added.

China is recognized as a mature provider and generator of data, Prashara said, noting that China's project managers could be more tech-savvy than their counterparts elsewhere. "For the PMI, the China market is growing significantly. There is an opportunity for us to choose China as an innovation center where we can research new ways of working."

China has seen several fatal retirement home fires over the last few years, raising concerns about their management.

China is now a big trader in goods. We do run a trade surplus in goods, but that's not our intention. What we want is more balanced trade. At the same time, China is running a deficit in trade in services, which has continued to widen year by year, including in the financial services sector.

China is attaching great importance to implementing the Made in China 2025 strategy, in a move to bolster its manufacturing competitiveness and bolster the global economy.