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"China is the fastest-growing NFC market globally and, together, Luckin and LDC see a significant opportunity to offer high-quality, sustainably-developed NFC juices to the Chinese consumer," said Guo Jinyi, Luckin Coffee senior vice-president and co-founder.

"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."

"China is going to play a fantastic and big role in this field ... we (need to) make sure companies partner together in order to resolve some of those big challenges that not only touch China but the rest of the world," Crozier told China Daily in Shanghai.

"China has never resorted to competitive devaluation," said Sheng, deputy head of Shanghai-based CEIBS Lujiazui Institute of International Finance. "The market plays the main role in determining the exchange rate of the RMB."

"China has during this period become a major engine for world economic recovery and growth, contributing nearly 30 percent on average per year to global economic growth," Wang said.