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"China becomes more self sufficient in chipmaking and it will make it difficult for western suppliers. That's the nature of business and competition. We think it's a good thing because it forces innovation on both sides of the ocean," Bingham said.

"But we need governments, international financial institutions, and the private sector to work with us to take full advantage of these advances," he said, listing four ways philanthropic capital can be used.

"Buyers are basically paying for a power battery, as the battery in an electric car is so expensive that it makes up about half of the production cost," he said in an earlier interview.

"China has embraced the world with open arms, made a significant contribution to promoting international trade and increasing global wellbeing, and become a key anchor and driver for the world economy," says the white paper.

"Changes do happen. More people in Hong Kong can now speak Mandarin. Exchange activities also have increased significantly, especially among young people," Tung said. "The region's major trade partners also turned from the United States and European countries to the mainland."