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"Corn yields, for example, can drop by 1.5 to 3 metric tons if the straw is smashed and returned to the field," he said.

"China's experiences will benefit other countries as well, as more countries see China as an example to emulate, a model of development that could mean moving from rags to riches within a generation," Hofman added.

"Creating value rather than pursuing a larger scale has become the No 1 target of most Chinese companies," he said.

"Chinese technology companies have changed the employment situation in the country by creating new jobs. For example, JD Finance hired a number of data scientists, risk control experts, and engineers," said Meng Zhaoli, dean of JD Fintech Institute.

"Compared with Hollywood, there are not many box office blockbusters among made-in-China movies. But China is on the right track by attracting more experts in the field and continuing to optimize its systems and policies for the film industry," said Feng Wei, vice president of the Asia-Pacific region and president of the Greater China region of the Motion Picture Association of America.