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"China is doing everything right. A lot of innovation will come from the country in the future. It won't take long."

"But now, most of the world-renowned experts on Chinese traditional culture choose to do research in China, so it's time to establish such an open and inclusive center to promote the development of Chinese traditional culture which meets the new era social development," Wang said.

"China is part of the global economic order; it has a vast array of investment, relationships and trading relationships all around the world," said Hormats.

"China needs to strengthen IPR protection and crackdown on IPR infringement to serve high-quality economic development, stimulate innovation and further promote the reform and opening-up and its integration into economic globalization," said Zheng Xinjian, an SPP prosecutor.

"CASME used to be a grassroots association seldom participating in international activities. However, since the first half of last year, especially since May this year when the Belt and Road Forum for International Cooperation was held, more associations like CASME in countries such as United States, Russia and Singapore have contacted us for cooperation," said Ren Xinglei, senior vice-chairman of CASME, in Beijing Thursday.