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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 companies looking to acquire beyond China's borders focus on achieving dual goals—winning at home and exporting abroad, which enables them to strength their domestic competitive stance while simultaneously positioning for global expansion especially in developing markets," said Phil Leung, partner of Bain & Company.

"Conventional Chinese car makers and new players who have joined the race are cooperating with each other in research and development and production," Zhang said earlier this month at the China Automotive Brands Development Summit in Beijing.

"China will continue its efforts to build an effective price control mechanism to ensure the healthy development of the real estate market," Wang said. "We will encourage the rental market and speed up the transformation of shanty towns."

"Compared with its rivals, VIPKID has gained a lead. However, it faces some challenges in that the company is trying to expand its business to small-size private classes," he said.