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And that insane growth rate is having a significant impact on big and small startups alike.

And third, "innovativeness". Our pioneering and innovative cooperation is showcased by such projects asthe Suzhou Industrial Park, a magnet for attracting investment, and the Tianjin Eco-City, a demonstration of green and environmentally friendly urban life. A more recent flagship project has been the Chongqing Connectivity Initiative, which focuses on enhancing connectivity and services for economic development.

And I believe China will lead global innovation as more and more Chinese companies are coming to the forefront of technology. We should all try to get involved and work with China.

An uncertain trade outlook could also impact the freight business as well in February, the report noted, which is typically the slowest month for US imports of Chinese goods.

Andrew Cheung Kui-nung, left, chief justice of the Court of Final Appeal of Hong Kong, walks outside the CFA building. [Photo provided to China Daily]