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"By the end of this year, we plan to finish establishing remote monitoring systems in major hazardous enterprises. We will also speed up automation of those industries and blacklist violators of safety regulations," he said.

"But the possibility of that happening is slim," said Li Daokui, head of the Schwarzman College at Tsinghua University. Li served on the Monetary Policy Committee of the People's Bank of China for two years until March 2012.

"By establishing smooth information cooperation, the alliance enables enterprises to communicate and obtain accurate, authoritative information, which can make cooperation more convenient and effective."

"China is among those countries," he said while also listing the Republic of Korea, Singapore, Japan, New Zealand and Australia.

"China has been on a very rapidly changing journey which many don't really fully appreciate ever since," he said.