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BEIJING, April 7 (Xinhua) -- China has confidence and capability to deal with any challenges in the field of intellectual property rights (IPRs), an official with the State Intellectual Property Office (SIPO) said Saturday.

With the United States retreating to the stronghold of protectionism and nationalism, concerns about a trade war are rising around the globe.

He said he was impressed by "the speed at which Chinese companies are expanding."

Speaking exclusively to Xinhua in Shanghai after Saturday's qualifying session for the 2018 Chinese Grand Prix, the Austrian talked up the job prospects for young people living in China today.

While saying China's cooperation with the WEF had coincided with the country's reform and opening-up process, Xi suggested that it was necessary for both sides to keep pace and advance with the times, strengthen cooperation and work together in pursuit of new driving forces for global economic growth, and find out practical and feasible proposals to address global challenges.