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China has leapfrogged to become the world's largest steel producer. In 2017, China produced 832 million tons of steel, followed by 169 million tons in the European Union, 105 million tons in Japan, 101 million tons in India and 82 million tons in the US, according to the World Steel Association. Back in 1980, when the US produced 101 million tons of crude steel, China's output was 37 million tons.

China has built over 6,000 kilometers of railroads and highways, nearly 20 ports and more than 80 large power-generation stations throughout the continent.

China has been a member of the TIR convention since July 2016. But so far, no Chinese company has joined the TIR system.

China has emerged as a global pioneer in the sharing economy, with a wide range of businesses using the peer-to-peer, or P2P, model, the report added.By the end of 2018, there were 305 unicorns, or startups valued at more than billion, in the world, of which 83 were Chinese companies. And 34 of them were in the sharing economy sector, accounting for 41 percent of Chinese unicorns.

China has been the world's largest new energy car market since 2015. Last year, it sold 507,000 electric cars, plug-in hybrids and fuel cell models, 53 percent growth year-on-year.