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"China is already a global digital economy and it is going to have a greater impact on the global digital world," Jonathan Woetzel, senior partner at Mckinsey and director of the McKinsey Global Institute (MGI), told Xinhua in a recent interview.

"But what doesn't kill you makes you stronger. It motivated me to think about the future, but in a more cautious way."

"China is about 30 percent of the global market for semiconductors," Mike Russo, vice-president of SEMI, an advocacy group, told China Daily. "The industry as a whole and all nations involved benefit from access to markets. Companies re-invest profits in research and leverage new technology. Folks are jockeying for access — no one has sewn it up."

"But uncertainties and pressure remain ahead as many migrant workers haven't left their rural hometowns or had to come back after failing to land a stable job in cities," he said during a news conference held by the State Council Information Office.

"China is well-established as a manufacturing hub but not in the upfront engineering sector," said Peter Zhang, chief executive officer of Aon Hewitt in China. "Because of this, Chinese companies have to resort to seeking candidates in other companies."