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China has been undergoing an economic transformation and updating its technology over recent decades. Huang said that had encouraged a large number of multinational companies to set up branches or facilities in the country, bringing more business opportunities for ANZ.

China faces two big challenges. One is sustainable development. How is it going to improve the lives of its people while preserving the environment and the resources that will continue to support further growth? The second is that success creates a new set of problems. As you modernize, people become more educated, they want greater control of their personal lives.

China expects intelligent cars with partial or fully autonomous functions to account for 50 percent of new vehicles sold in the country by 2020, according to the National Development and Reform Commission.

China has been growing fast in education, the report said. China sees 2.8 million graduates majoring in science and engineering every single year, which is five times compared to the US. The proportion of science and engineering graduates per 1,000 people in 2015 is also five times compared to 2005.

China has entered the peak of flu season, and the number of outbreaks－10 cases or more－has been significantly higher than the average for the past few years, according to the National Health and Family Planning Commission.