The future development of the Chinese economy will focus on improving productivity, and applying "Internet Plus" approach to create new market growth and drive innovation.

Peter Tyroller, a board member at Robert Bosch GmbH in Germany and responsible for Asia Pacific, said China's fast growing 4G network would build a solid foundation for its manufacturers. This in turn would benefit greener, more efficient and sustainable development.

"With the advent of Industry 4.0, launched in Germany in 2013, we will see new players - especially from the Internet world - entering the manufacturing sector, where they will change customer-supplier relationship in both China and Germany," Tyroller said.