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China has also signed or upgraded five free trade agreements with 13 of these countries, according to Qian.

China has also increased investment in skilled workers' schools and technical institutes. Yang Jingyuan, the principal at Yunnan Transport Technician College in Yunnan province, said the government is investing more than 400 million yuan in his school from 2016 to 2020, which is "much more than the total the government invested in the past 30 years".

China has been gradually opening up its financial sector, with authorities pledging to ease caps on foreign ownership in Chinese banks and financial asset management companies.

China has impressed the world with the construction of its high-speed railways and its first self-built large jetliner, and now the oceans are the next stage for high-end manufacturing as construction commences of the nation's first homegrown cruise ship, which is scheduled to be delivered in September 2023.

China developed the Type 62 light tank in the 1960s and had used it in its armored forces in southern regions for more than 50 years until retiring them in 2013.