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"China's input on research and development rose to the second-highest in the world in 2017," said Wan, adding that the number of full-time R&D personnel in China is the high-est in the world.

"Chinese authorities are looking to fast track new energy vehicle (NEV) sales, but despite subsidies the growth in volume in the NEV segment amounts to just around 1.8 percent of the total vehicle market in China so far this year. The authorities are beginning to look for tougher and more stringent ways to strengthen the NEV segment," wrote Namrita Chow, principal automotive analyst of IHS Markit, in an email.

"Companies can ride the rising demand to focus on other high-tech, value-added products. Domestic toy manufacturers' competitiveness reflects not only in their price labels today but in their development capacity as well as intellectual innovation."

"Consumers in China's less-developed regions are becoming increasingly sophisticated shoppers who are looking for lifestyle upgrades. This increased consumption potential could mean bright prospects for our merchants," said Jiang Fan, president of Alibaba's Tmall and Taobao.

"China's legal system governing foreign investment has been keeping pace with changes on the ground. In particular, we need to introduce the system of pre-establishment national treatment and negative list for foreign investment. Such new strategic goals naturally call for the commensurate improvement of the country's legal system," said Li.