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China's technological advancement has benefited from the country's reform and opening-up policy, Chinese companies' technology import and foreign companies' technology spillovers. China not only pays for billion fee for technology transfer annually but also contributes huge sales revenue for foreign companies with its ever expanding market, so China's technological advancement is a win-win game for the world economy, Zhang said.

China's vast and rapidly growing market has been the biggest driving force for the BMW Group to accelerate its localization.

China-Japan-ROK trilateral cooperation has achieved fruitful outcomes in areas such as the economy, trade, finance, transport, culture, education, environment, health, and disaster management. An investment agreement has been signed, and 13 rounds of free trade agreement (FTA) negotiations have been held, according to Hua.

China's smart manufacturing sector will see a compound growth rate of about 20 percent in the 2016-2020 period, and the annual output of the sector will exceed 3 trillion yuan (about 3 billion), according to a report from CIConsulting, a Guangdong-based research institution.

China's strenuous efforts to balance public security with economic growth showcased the resolution of the central leadership to promote the building of a modern economic system, optimize the industrial structure and achieve sustainable development.