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Drawing on Standard Chartered's experience, China Bohai Bank formed new management regulations and policies, in addition to forming a credit risk management system with three levels of credit approval, and building its operational risk management framework.

During Oct 20 and Oct 26, Hainan Airlines, China's largest private airline, launched direct flights between Chongqing and New York, and Chengdu and New York, respectively.

Douglas McWilliams, deputy chairman of the Centre for Economics and Business Research, a London-based economics consultancy, said the major risk of China not meeting its 2020 target comes from global factors outside of Beijing's control.

During a recent visit to Shenzhen, Guangdong province, filmmaker JT Singh noticed how the sound of packing tape can be heard at all times throughout Huaqiangbei, the massive electronics hub located at the heart of the city.

Double 11, also known as the Singles' Day online shopping festival, witnessed record sales of 213.5 billion yuan (about .5 billion) last year on Alibaba's online shopping platforms including Tmall and Taobao.