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"By encouraging the establishment of creditor committees, our banking association guided private companies to correctly understand what a reasonable debt load is. Members of the creditors committees took concerted action to help private firms comb through their debt structure, dispose of idle assets, return to core business and deleverage," she said.

"China has already become the second-largest economy in the world, and it may have huge potential in the cross-border e-commerce business," Tubb added.

"China has made significant progress in financial inclusion," said the IMF in a report, after it assessed the country's financial sector performance during the past five years. "High levels of account penetration, savings, and usage of payments services have been achieved."

"But we could be left with no choice but to seek a new path if the US does not make good on its promises, misjudges our patience, while seeking to force things unilaterally and clinging to sanctions and pressure," he added.

"China is accelerating its opening up, which is a big cake that has great appeal for foreign firms," said Han Jian, a professor from the Business School of Nanjing University.