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As a huge market, China will firmly open its door to the outside world, strengthen intellectual property rights protection and build a marketized business environment, Li said. Japanese companies are welcome to invest in China, he said.

As a Chinese American, Lieu said he "routinely" gets comments from people telling him to go back to China. "If you look at my social media feed, I get quite a few people responding that make racist comments," he said at the same webinar.

As competition in the world's smartwatch market intensifies, Chinese technology plays including Huawei, Huami and Vivo are also jumping onto the bandwagon for a piece of the action. Demand for Huawei's smartwatches increased in China and other Asian markets where shipment volumes grew by 90 percent in the first six months.

As a response, State Councilor and Foreign Minister Wang Yi said earlier this month that, "Plenty of facts are proof that the BRI is not a debt trap that some countries may fall into, but an economic pie that benefits local populations. It is not a geopolitical tool but a great opportunity for shared development."

As an example, he cites technologies, including new retail, autonomous driving, internet of things, will make mobility more affordable and online sharing technology will drive larger car fleets such as Uber and Didi. All these drivers he expects will increase car usage time from today's 4 percent to 30 percent or more.