Innovation a competitive edge

China's endless innovation upgrading, from Alibaba's "face-brushing" shopping model, to the "car networking" system of Datang Telecom and Haier's "air box" for wireless connections to home appliances, will inject an inexhaustible vitality into its economy.

These are only a snapshot of transition being made by China's traditional manufacturing. China's sophisticated technology, such as high-speed railways, nuclear power and aerospace, have also been at the center of the world stage in recent years. Some foreign experts are predicting that China is becoming a leading force in global technological innovation.

China's economy has once again exhibited a strong resilience and it continues to act as the driver for the world's economic growth. Just as some foreign economists point out, there is no need to worry about the disappearance of China's shoe and hat factories, because its enterprises at the high end of the industrial and value chain have now taken over the baton.