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As Chinese makers of smartphones, personal computers and servers grow into major players in the global technology arena, they also recognize the need for localized or in-house chip suppliers to help them better differentiate their products, Yang said.

As Alexander Hamilton, the first US Treasury secretary, argued, a developing country may need to protect its "infant industries" from already established foreign competitors. This was the policy followed by the US in the 19th century and by Western Europe, Japan, and South Korea in the years after World War II.

As Coca-Cola's third-largest market, China offers exciting opportunities and the firm has full confidence in the Chinese market, said James Quincey, president and chief executive officer of Coca-Cola.

As China explores how to run national parks, the country faces challenges such as relocating people who live within the boundaries of the pilot parks, according to Jin Peihua, vice-president of Zhejiang A&F University.

Artifacts from old Shanghai households are now on exhibition in POA Gallery and the Wulixiang Museum in Xintiandi, an upscale shopping and lifestyle hub of the city.