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"China's consumption has huge potential," Sheng said.

"Contrary to perceptions that the Chinese style is very rigid, there is also much discussion in the classroom about the merits of different solutions to problems."

"Chinese carmakers cannot rely too much on their joint ventures for profit, which means they have to work harder on their own models. This will help cull the incompetent but cultivate the competitive such as Geely," Zhang said.

"China still has plenty of potential sources of domestic growth－consumption for instance－and it can now cultivate these further. That means it will be able to face the current issues with more flexibility and readiness than others, although the question is whether this will be sustainable."

"China will also deepen international cooperation to fuel the development of the global digital economy and build a community of common destiny in cyberspace," Chen said.