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"China's digital economy has scaled up from 11 trillion yuan to 35.8 trillion yuan, accounting for 36.2 percent of the GDP," Xiao added.

"China will foster a more relaxed and orderly environment for entrepreneurs from home and abroad to make investment and start business," said Xi, calling on entrepreneurs to seek better development amid China's new journey of reform and opening up.

"Consumers are becoming more selective about the products they purchase, and tend to buy products that have more practical uses," said Emily Cheng, general manager of Honeywell Connected Living Solutions China.

"Climate change remains a central health challenge for the 21st century," she said. "This report should inspire leaders around the world toward rapid decarbonization. Time is of the essence. It is past time for all policymakers to take this seriously."

"China's economy as a whole presents great opportunities, including its continued urbanization, which opens many areas for expansion," said Kang.