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"China is a rising power in the IT industry and has a huge potential market," he said. His company has signed three cooperation projects in Hainan.

"By being fully open to the innovation community in China and other markets, our platform is a way for us to encourage new companies, researchers and entrepreneurs to enter the food safety space, while recognizing those already making strides in this important area," he said.

"Caterpillar China has striven to build an integrated system for its mini excavator business, covering local R&D and manufacturing as well as the provision of components and parts," said Chen Qihua, vice-president of Caterpillar and chairman of Caterpillar China.

"China only needs 6.3 percent year-on-year growth to achieve its target of doubling GDP by the end of 2020 from a decade earlier as scheduled," he said. In the 2020s, China's economic output is likely to grow at moderate pace, by around 5 to 6 percent year-on-year, according to Liu.

"China has undertaken the biggest transformation to high-quality urbanization in the world," said Sean Chiao, president of AECOM Asia-Pacific, a Fortune 500 city-planning firm. "The potential for urban development and infrastructure is huge as a developing country."