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"But we have worked hard to have a better picture of local consumers' product preferences, and scrambled to localize our products and marketing strategy," Li said.

"China is now the second-largest market of Emerson," said Hakan Erdamar, president of Emerson commercial and residential solutions in Asia, Middle East and Africa. He said the planned research center will become a vital part of the company's strategy of "in China, for China".

"China has the largest and most dynamic market. The engine of AI innovation may be in China in the future."

"But the price of the imported hirudin is between 20 and 30 times more than the domestic ones," he said.

"By the end of last year, China's total length of optical cables reached over 43.5 million kilometers, and the number of users of 4G networks hit 1.17 billion. We have made breakthroughs in research of 5G technology, and sped up the deployment of IPv6 network. Meantime the initial global service of BeiDou 3 satellite system is in place. It is now available to many regions including the countries along the Belt and Road route," Yang says.