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"China is not only the biggest exporter of manufactured goods, but also a major exporter of intermediates used by factories across the world. It is also a key supplier of materials or components for sectors including autos, shipbuilding, electronics, machinery and textiles," Bai said.

"China is continuously launching a series of policies to increase efficient investment and household consumption and has implemented tax and fee cuts. A combination of these measures has boosted market confidence," said Peng.

"China leads the world in the application of blockchain technology," said Huang Zhen, a professor with the Central University of Finance and Economics. "The technology is widely used not only in the financial sector but also in government services, which has become a key driving force for improving the business environment."

"Carrefour is seeing more recovery lately, as they are making efforts to move from (a) hypermarket only model to a multi-format strategy by opening more Easy Carrefour and launching compact hypermarkets," said Jason Yu, general manager of Kantar Worldpanel. However, on e-commerce, Walmart and RT-Mart are likely to get upper hand with the JD and Alibaba alliance," he said.

"China hopes that countries outside the region, including the United States, will fully respect the wishes and expectations of countries in the region, instead of creating tension and seeking profit from it."