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"Chinese President Xi Jinping once said, 'when the youth rises, the country rises; when the youth is strong, then the country is also strong'," Liu said.

"China will face a severe challenge in meeting its pension obligations," Chu Fuling, director of the Institute of Social Security Studies at the Central University of Finance and Economics in Beijing, told Xinhua on Saturday.

"China's central bank, the China Banking Regulatory Commission, and the State Council have all taken explicit actions in 2017 to reduce the expansion of debt - especially the mounting indebtedness of State-owned enterprises," said Roach in a recent interview with Xinhua.

"China's retail sales of consumer goods surged 9.8 percent year-on-year in June, especially driven by the rapid growing online sales and this year's June 18 retail festival," Mao said at a news briefing held on Monday in Beijing. "And we've witnessed fast growth in online sales of cosmetics and home appliances."

"Chinese automakers have the capacity to challenge the dominance of market leaders on the back of economies of scale and they already have an edge with the electric vehicle technology that fits well into the Indian government's vision to become a key global base for electrification," said the report quoting Amit Kaushik, managing director at the consultancy firm Urban Science.