Nation continues to be at the forefront of global innovation

Technologies such as AI set to make drastic differences in people's lives

China is shifting to become one of the leading innovators in the world, thanks to an increasingly educated workforce and a growing economy, and there are many opportunities for companies from the United States and China to develop global partnerships and new, innovative ways to grow market share, said Gary Shapiro, CEO and president of the Consumer Technology Association.

"Globally, China is second in the world in the number of unicorns - companies valued at $1 billion or more. And the government has started to strategically invest in innovation in key areas, including self-driving vehicles, artificial intelligence and drones," said Shapiro.