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Andy Ho, CEO ofPhilips (China). [Photo provided to China Daily]

And, the transition away from manufacturing to services (which are officially called the tertiary industry) continues. "The economic structure was optimized. In the first three quarters, the value added of the tertiary industry accounted for 54.0 percent of GDP, 0.6 percentage point higher than that of the same period last year," the NBS said in its summary.

Anheuser-Busch InBev, the world's biggest brewer by production volume, will convert half of its plants in China into solar-powered factories by 2020, to increase the share of non-fossil energy in the country, said a senior executive.

And without binding multilateral rules, policy contests in the context of the new industrial revolution are likely to evolve into a beggar-thy-neighbor disorderly rivalry that ultimately undermines effect of the new industrial revolution in boosting global economic recovery.

And they added: "A number of US cities continue to dominate the global landscape, including the San Francisco Bay Area, New York, Boston and Los Angeles, but the rest of the world is gaining ground rapidly."