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"Chinese characters are the only ancient script now still in use in the world and it's a miracle of human history," said Sears in fluent Chinese.

"Convenient, efficient and comfortable transportation, such as high-speed rail and air travel have been on the rise, while the number of traditional road trips is declining," Wu said.

"Chinese businesses will inevitably take on a global leadership role as it participates more closely in this conversation. Yet a variety of barriers must be navigated in order for that leadership to be viewed favorably and with trust," the report said.

"Currently, landlords could arbitrarily terminate rental contracts citing almost any plausible excuse, which breaches tenants' legal rights," said Quan Li, founder of apartment-leasing service Fangdongdong. "Mobilizing technology to gauge people's credibility tackles that problem."

"Chinese companies have gained an upper hand in large-screen LCD displays. South Korea's Samsung and LG have announced they will exit from the LCD sector, which means Chinese panel makers will take a dominant position," said Li, adding that the South Korean firms will focus on OLED and QLED(quantum dot light-emitting diode) displays.