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As part of this initiative, the city government set up the Hangzhou International Meeting Bidding Service Center in June. The center will work together with local companies, organizations and convention ambassadors and provide bidding services for international association conferences and other meetings.

As it now stands, the RCEP would cover almost 30 percent of the global economy. If India were to be included, it would cover about 32 percent.

As more products come off factory assembly lines and customers have grown appetites for new things, however, some of the traditional brands are struggling.

As one of the world's biggest energy consumers, China has been building up stockpiles of crude oil, with imports rising 5 percent to 130 million metric tons during the first quarter.

As one of the countries with some of the earliest and strongest efforts in developing the new energy car industry, China has seen a slew of outstanding enterprises emerge in the industrial chain. But some difficulties in core technologies including battery power still need to be overcome.