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"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 has made significant progress in financial market opening-up and participated in an expanding scale of trade, cross-border investment and human resource movement, naturally strengthening the yuan's international role," Zhang said, adding that the growth of the yuan's share in global reserves could help stabilize global financial markets with currency diversification.

"China is going to play a fantastic and big role in this field ... we (need to) make sure companies partner together in order to resolve some of those big challenges that not only touch China but the rest of the world," Crozier told China Daily in Shanghai.

"China has always been the nucleus of our global business map, and it will remain so, given that over 50 percent of the world's construction is taking place in China. The country is also the vanguard of high-density urban planning, setting the standards for other countries to follow," said Keith Griffiths, chairman and global design principal of Aedas, the British architectural design firm.

"China has very, very impressive infrastructure — high-speed rail that would be an asset to the United States. But what they have succeeded in doing is going from very, very human capital poor to one of the better educated emerging economies," he said.