The foreign ministry also stressed that China's arms exports abide by legal norms and pose no threat to global peace and stability in response to a report by the Stockholm International Peace Research Institute on China replacing Britain as the world's fifth-largest arms exporter, says Beijing Times.

BBC: China media: Japan radar lock

According to a 36-page academic research report by the Peterson Institute for International Economics, China has moved closer to its long-term goal for its currency, the renminbi (RMB), to become a global reserve currency.

FORBES: China Taking Asia Further From Dollar, Even Further From Euro

As a result, Google has been losing market share in China, according to research firm Analysys International, which estimates the company had a 17% share of search revenue in the country in the first quarter, down from 36% in the fourth quarter of 2009.

WSJ: Google Tips Off Users in China

The Bush visit will change the tone of the relationship for the better, says Chu Shulong, a senior research fellow at the state-sponsored China Institute of Contemporary International Relations.

ECONOMIST: China keeps its anger under control

Meanwhile, Android held a market share of more than 80% in China at the end of 2012, according to Beijing-based research firm Analysys International.

WSJ: Amazon Adds China Apps Store

According to Beijing research firm Analysys International, Symbian phones (Nokia) made up 72.1% of the smart phones sold in China during the fourth quarter of 2009.

FORBES: Baidu's Answer to Android And The Mobile Market