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"China needs to continue its opening to the world, including important programs like the Belt and Road Initiative, while also promoting domestic-based growth to improve people's livelihoods and living conditions," said Sachs, who is also a senior United Nations advisor.

"China is betting big on the industrial IoT to increase productivity and drive efficiencies by streamlining and automating manufacturing processes via internet connectivity. Backed by positive government support, China is set to become the world's leader," said Alex Sinclair, chief technology officer of the Global System for Mobile Communications Association.

"But the entry barrier is a lot lower for online literature. We have seen an influx of novel writers onto our platforms. Stiff competition spurs high-quality creations," he said.

"China has made great progress, but if you reflect back, the Global Findex showed that we went from the low 60s to about 69 percent of people in the world covered in terms of financial access," Kim said, referring to the finding that 69 percent of adults around the world, or 3.8 billion people, have an account at a bank or mobile money provider, up from 62 percent in 2014.

"China is taking a lead in STEAM education. Therefore, we are willing to introduce related products in China. Based on the market feedback, we will develop more courses and introduce more STEAM educational products in China in the coming years," said Isozu.