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"Chronic diseases are becoming an increasingly severe problem among Chinese patients, and Chinese people now have a higher demand on their health. The public wants to stay healthy, while the government wants to fulfill their wish. There is a problem that drugs are becoming increasingly expensive. We need to seek a balance where drug companies can make money while the public are able to afford their treatment," Margaret Chan, president of the Global Health Forum and former World Health Organization director-general, said.

"China's economy needs to rely increasingly on domestic demand instead of external demand to sustain growth. Meanwhile, it also needs to accelerate the push for moving up the value chain and cut its traditional reliance on low-end goods output," said Ying.

"Currently digital sorting and storing has become the most important way to preserve this epic," said Shangcham Tsering, associate researcher with the institute.

"China will clean up existing laws and regulations that go against pre-establishment national treatment, while expediting the making of detailed regulations by the end of this year," Zhang said. Pre-establishment national treatment means foreign investors are treated the same as their domestic counterparts before and during the approval process.

"China's reform and opening-up has contributed significantly to global development," Park said, as the Chinese government created huge demand via expansionary fiscal policy during the global financial crisis and thereafter, serving as a driving force for global economic growth via the largest consumer market in the world.