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"China used to have comparative advantages in developing labor-intensive industries with its abundant and cheap labor to export goods to the international market and benefit from globalization," he said.

"Compared with the more frequently used 500kV high voltage direct current power transmission (HVDC), the company decided on 800kV UHVDC for higher power capacity and more stable transmission to meet the growing power demands of the Greater Bay Area," said Zhang Yan, deputy general manager for the Kunming's operations of the Wudongde DC Project.

"Cube drew great interest and good feedback from system integrators, governmental authorities," said Hans Yu, founder of Counect International. The device has been used by the Malaysian government to monitor sales and taxation, in addition to utilization in more than 60 Chinese cities, said Yu.

"China's scale dividends are likely to be an important driver of improving the total factor productivity over the next five to 10 years," said Shen Minggao, chief economist at GF Securities, who noted more efforts are needed to drive the transformation and upgrading of the traditional manufacturing industry, enhance its efficiency, as well as improve total factor productivity, in a bid to maintain a relatively rapid GDP growth.

"China, as one of the most active participants of the IEC, published the first Chinese version of IEC standards during this year's IEC, which will promote the wider spread of IEC international standards in China," he said.