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"China's retail sales of consumer goods surged 9.8 percent year-on-year in June, especially driven by the rapid growing online sales and this year's June 18 retail festival," Mao said at a news briefing held on Monday in Beijing. "And we've witnessed fast growth in online sales of cosmetics and home appliances."

"China's AI industry is flourishing currently, epitomized by the fact that an increasing number of tech breakthroughs are being made. AI is also being applied in a string of vertical industries," said Chen Zhaoxiong, vice-minister of industry and information technology.

"Chinese people have built mega-projects benefiting all over the world, more precisely on our African continent," he insisted.

"China's urbanization has been further advancing along with the development of the Belt and Road Initiative. It began in coastal areas and eastern city clusters, and then extended to China's midwest regions, leading to the rapid development of a host of lower-tier cities," said Ding from Nielsen China.

"Countries are racing to identify strategic technologies and develop sustainable competitive advantages in areas like artificial intelligence and robotics. With Xi's speech, blockchain technology can now be added to this list."