As innovation becomes more important in economic restructuring and reform, Silicon Valley investors and entrepreneurs are paying close attention to China's high-tech achievements.

“China's innovation modes and personnel structure are different from those in Silicon Valley, but they are with the same purpose, which is to change lives through technology,” said Wu Jun, a Silicon Valley investor.

“Take Mobike as an instance. It's very popular recently, and helped to solve the transportation problem in the city, and achieved a good result. Some American cities are learning such experiences too.” 

While the technology sector is achieving rapid growth at home, Chinese companies are also investing overseas to pursue cooperation and development. Experts say China is now doing the work that Western countries completed in 200 years within three decades. They note that China needs to restructure all of its industries to pursue sustainable development.