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"China's laser display industry has achieved great advances in the past few years to possess a number of patents and a group of leading enterprises," said Xu Feng, an engineer with CCID Think Tank under the Ministry of Industry and Information Technology.

"China's input on research and development rose to the second-highest in the world in 2017," said Wan, adding that the number of full-time R&D personnel in China is the high-est in the world.

"China's remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty," noted Hoon S. Soh, World Bank Program Leader for economic policy for China.

"Compared with the small number of regulations that focus on the protection of children's personal data, the boom in educational smartphone applications has seen abundant information collected, which poses great risks to the safety of juveniles," she said.

"Consumers are becoming accustomed to buying imported goods through the cross-border e-commerce channels, which has become very effective and complementary to the general trade model," said Zhang Tianbing, a consumer products and retail industry expert from Deloitte Asia Pacific.