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China is experiencing a large-scale and fast urbanization process, which requires more modern, data-based and intelligent social governance, according to Peng Sen, president of the China Society of Economic Reform.

China has undergone remarkable changes over the years. "Seven years ago, mobile payment and bike-sharing facilities were not so commonly seen, but now Alipay and Mobike bicycles are everywhere," he said.

China has strictly followed the WTO's rules on investment, said Qi Tong, professor with Wuhan University's Institute of International Law. China had revised its major laws on foreign investment prior to its WTO entry and has continuously relaxed market access to fulfill its commitments on opening-up in service trade, he said.

China is gradually switching from an approval-based IPO system to a more market-oriented one based on registration.

China is one of the 172 member states and observers that issued the joint statement of support to the secretary-general's appeal for a global cease-fire.