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China is already a leading market globally for venture capital in technologies including virtual reality, artificial intelligence, autonomous vehicles, and 3D printing, with about one third of the world's "unicorn" companies (startups valued at more than billion) hailing from the country, according to global consulting firm McKinsey & Company.

China is pushing competitiveness in its domestic markets by opening them further to foreign competition - thus forcing Chinese companies to step up independent innovation and industrial upgrading. At the Boao Forum in March, Premier Li Keqiang explained China will not resort to massive stimulus to boost growth, but will continue to open up and innovate to energize market players.

China is on the track to meet its annual economic growth target of 6.5 percent this year, but more efforts are needed to stabilize the economy to ward off a slump in the next year, according to senior officials.

China is the world's second largest home for "unicorn firms" -- the country had a total of 58 privately owned companies valued at over 1 billion U.S. dollars in 2017, according to Zhang.

China has repeatedly stated its solemn stance on Xinjiang-related affairs, and the US is slandering Beijing's policies and legitimate measures on Xinjiang and interfering in the country's domestic affairs, Lu said.