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China's regulatory reforms have been recognized by the World Bank Group's Doing Business study. During the 13th Five-Year Plan (2016-20) period, the country climbed to 31st globally in terms of the ease of doing business for the 2020 study, versus 90th for 2015.

China's service trade hit a historic high in the first 10 months of 2018 with optimized structure and stable progress, data from the Ministry of Commerce show.

China’s tech giant Tencent has joined the race with rivals such as Baidu and Alibaba to recruit senior autonomous driving engineers in Silicon Valley.

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 total energy consumption will be capped at 5 billion tons of coal equivalent by 2020, according to a government plan for 2016 to 2020. This will amount to a 15 percent reduction of energy use per unit of GDP by 2020.