Hybrid rice, cloned monkeys and mythical dragons

These factors will add many uncertainties to China's socioeconomic development, but the pressure can motivate the country to upgrade its technologies, products and industries, he said.

Xu Guanhua, a former minister of science and technology, said China still faces three major obstacles to becoming a science and technology powerhouse: a lack of world-class science talent; lackluster market services to assist innovation efforts; and a lack of confidence to tackle difficult projects.

"A top talent can often decide the ability of a research team or even an entire institution," Xu said, adding that world-class talent and the ability to make original breakthroughs are essential for China to catch up with developed countries.