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"China will continue to export consumer goods and import France's high-tech products such as electronics, passenger aircraft, vehicles and parts and medical equipment," said Xue Rongjiu, deputy director of the Beijing-based China Society for WTO Studies.

"China, the greatest online retail player in the world, can represent a great opportunity for those European companies who are willing to serve the country's growing middle-class consumers."

"City authorities drafted a development plan for the LED industry early in 2008 when the coal market was still booming," he said. "When the market stagnated in 2013, the provincial authorities arranged for coal company employees to visit LED manufacturers to learn about the industry."

"China should seize opportunities to boost innovation in deep learning, smart algorithms and chips, and modernize industries with AI technologies," Lin Nianxiu, deputy head of the National Development and Reform Commission (NDRC), told a room of entrepreneurs, researchers and policy-makers at the congress, which was held from May 16 to 18.

"China will embark on large-scale 5G network construction next year. This will further the use of the cutting-edge technology in more traditional sectors and lay a sound digital infrastructure for manufacturing upgrades," Wang said.