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"Companies producing substandard fireworks will be ordered to rectify the problems, while those violating product-safety regulations in the production process will be punished," he said.

"China's online education will enter a boom period where different firms are expected to thrive soon. In the K12 or kindergarten to 12th grade sector, leading companies will likely dominate the market," said a recent report from CITIC Securities.

"Cities that rank tops in sustainable development are all mature cities, and have developed for more than 100 years. We expect that Chinese cities can soon get to that point," said Marco Kamiya, coordinator of the urban economy and finance branch at UN-Habitat.

"Chinese travelers, especially those born in the 1980s and the 1990s, are becoming increasingly accustomed to homestay in the domestic market. They are the main spenders. So, it would be unreasonable to ask them to use one app for booking rooms in China and another app in overseas markets. We're moving in advance to grow the supply of quality houses in foreign countries," Chen said.

"China represents a tremendous opportunity, given its significant market size, abundance of unmet clinical needs and active entrepreneurship landscape. Establishment of this Medtronic med-tech innovation accelerator forms another bold step to continue to advance innovation through collaboration," said Omar Ishrak, Medtronic chairman and CEO.