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"China's main social contradiction has changed and its economic development is moving to a stage of high-quality growth from a high-rate of expansion of the GDP," said Yang Weimin, deputy head of the Office of the Central Leading Group on Financial and Economic Affairs. "The biggest problem facing us now ... is the inadequate quality of development," he said at a news conference.

"Chinese companies may know their longtime trading partners based in the United States, Japan or Europe, but today we need to deal with emerging business opportunities in more than 60 economies with varying conditions," said Zhang Xuqing, assistant general manager of the international business division at China CITIC Bank.

"China's experience provides valuable lessons to authorities in other countries which are fashioning their own pathways toward sustainable and long-term financial inclusion," it said.

"Cross-border capital flows should be monitored by the Chinese monetary authority next year to prevent unexpected fluctuations, which have happened in some emerging market economies this year," said Wang Shengzu, co-head of the Investment Strategy Group Asia at Goldman Sachs Private Wealth Management.

"Currently, we sell about 450,000 smartphones in China every day," Ren said in late March. "As the demand further recovers, monthly sales are expected to reach 20 million units later this year."