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"China is now a powerhouse of innovation and has a strong and complete ecosystem, including hardware, software, artificial intelligence and others," he said.

"China has witnessed magnificent changes since the government introduced the reform and opening-up policy 40 years ago. The internet, with its nature of openness and connection, has accompanied the development," Li said in an exclusive interview with China Daily website at the fifth World Internet Conference, which was held Nov 6-9.

"China has been investing in infrastructure in South America for a while," Leeds said. "So, from our perspective, we don't think that's news - just additional competition. Brazil and Argentina still have a long way to go, but these investments are certainly closing the gap on their ability to compete with the US."

"By 2020, the company plans to construct warehouses with more than 1 million square meters, with a capacity of storing 100 million pieces of commodities and processing 800 million pieces in a year," said Li.

"China is making good progress toward higher quality growth. But the journey has just begun," Roach added.