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Among its other efforts, the German carmaker plans to introduce 10 new energy vehicle models to China by 2022 and double the current number of localized models by that same year, according to Thomas Owsianski, president of Audi China.

Amid the drive to optimize the industrial sector, the ministry also continued to reduce steel capacity in the first quarter, aiming to meet the annual target, as well as slash overcapacity in the cement and plate glass sectors, MIIT spokesman Huang Libin told reporters.

America is good at innovation but America does not hold the exclusive "patent" on innovation. The past 40 years of reform and opening up in China have seen the country highly integrated with the world and supplying the global market with goods that are not only "made in China" but also "created in China" and "innovated in China". China's economy is in a transition from high-speed to high-quality growth, with an emphasis on innovation, which has been an enabling force behind China's remarkable progress in IP protection.

Among the interviewees, 47 percent are employed, while 53 percent are retired or running their own business. The median of total liquid assets of multimillionaires is 20 million HK dollars.

Among the migrant workers piling up Beijing's tallest building – the CITIC Tower – a 22-year-old wood craftsman from south China's Guangdong Province says that he left home for the megacity to get a taste of the economic miracle. But he cannot afford a day off to even see the city, for he would lose the day's wages. His deepest impression of the metropolis is the high consumer prices.