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Android creator Andy Rubin is back and aiming to change up the digital assistant and smartphone markets with a pair of new products from his company Essential.

Analysts said China is now transforming from the phase of rapid development to a new stage of high-quality development and shifting its focus to nurturing technological innovation and further opening up its economy.

Andrew Dewey, CEO of Organiponic, said that China has only about 7 percent of the arable land in the world yet needs to feed 20 percent of the world's population. That's a big challenge he thinks his company's home agriculture system can help solve.

Analysts polled in advance by Thomson Reuters had expected the company to post revenue of more than .1 billion and earnings of 8 cents per share.

And China has a unique advantage in using technologies to drive business model innovation. Such digital makeovers, plus a glimpse of successful business cases like Disney, may catapult Chinese cultural and entertainment firm to the global forefront sooner than expected.