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China is keen to make investments in India, while India wants greater market access in China, as well as action by Beijing to address the trade imbalance. It has agreed to expand imports of rice and sugar from India.

China is also leading in industrial innovation, particularly in the automobile, information and logistic industries, said Huang Jinghua, professor of advertising at the Communication University of China.

China is actively promoting a transformation toward digital and smart banking based on the development of blockchain, cloud computing, artificial intelligence, big data and the fifth generation of wireless network technology.

China is ASEAN's largest trading partner and the top source of imports for many ASEAN countries, he said.

China is gearing up to be one of the few truly mobile-first economies in the world, which is spurring foreign mobile marketing and analytics companies like AppsFlyer to target opportunities in the country.