WHY CHINA

China will pursue an innovation-driven development strategy to create stronger growth drivers. By putting forth a new manufacturing strategy called "Made in China 2025", which is greener, and more intelligent approach to manufacturing, with an emphasis on quality and adaptation to the trend of being increasingly integrated with the Internet.

China is the world's largest economy by purchasing power parity according to the IMF. "China's middle-class growth even at a less-than-expected rate on an absolute scale is going to be huge," says Paul Swinand, a retail analyst at Morningstar. He is talking about half a billion middle-class consumers in China in five years.

China High-technology industries accounted for about 15 to 20 per cent of China's overall GDP growth in 2018. China made significant progress in its manufacturing transformation and upgrading in 2018, but in the coming years, it needs to address shortfalls in its practical technology innovation and essential research capacity. China needs to invest more in innovation and to encourage global cooperation in the process of economic transformation and industrial upgrading.