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"By reducing administrative controls, investors' willingness to trade more could be strengthened," Dong said.

"By creating an atmosphere of so-called civilized smoking, the tobacco industry is trying to undermine the existing strong legislation to make Beijing a smoke-free city," he said.

"China has a lot to offer to the world, and it will be able to bring its experiences to the world, in markets like the United States and Europe," he said.

"China is the leader in delivering products, services and applications that drive the internet of things. Cypress is leading in delivering intelligent, secure and connected solutions. Together, we can imagine and build the future we all want to see," he said.He made the remarks on Wednesday at a ceremony held in Beijing to celebrate the company's 20th anniversary in the Chinese market."Seeing China's rapid development during the past 20 years, we are now actively embracing IoT, smart connected vehicles and other emerging technologies,"El-Khoury said.With its new Made for China & Enable China strategy, the company will further increase spending on hiring talent and research and development, with the aim of meeting local clients' demand for localized, high-quality services.With more than 300 local employees, the Nasdaq-listed company has established branches in Beijing, Shanghai, Shenzhen in Guangdong province, Chengdu in Sichuan province and Hong Kong. The company has partnered with dozens of local companies, including Alibaba, Huawei and Xiaomi.

"China has come a long, long way. It's been credited for that," he added.