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"China is a strategic market for us, with North Asia being a growth engine, growing faster than anywhere else in the world," said Masters.

"But most producers don't have enough money for their R&D work. With the support of the fund, domestic suppliers can bring in more advanced technology from abroad through investments, and mergers and acquisitions," Lin added. "This will in effect help domestic companies to grow faster and produce more competitive products."

"China is one of the world's most important education markets. That is why we launched the product first in China. With the country's demand for STEAM talent surging, we hope to establish a new educational ecosystem," said Masaaki Isozu, CEO of Sony Global Education, a unit of Sony Corp.

"China is doing its darndest to spark a recovery in Western Australia, with the state's miners now adding capacity and hiring workers in iron ore, gold and lithium," Richardson added.

"China has come to a critical period of upgrading and transformation," Dong added. "The domestic consumer market is entering a new era driven by technology, high quality and services. The generation born in the 1980s and 1990s has become the main force of consumption, and those born in the 2000s will also become new consumption drivers."