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"China is at a new historic juncture," said Liu, "China's main task now is to address the imbalances and inadequacies in our development in order to meet the people's ever-growing needs for a better life. This will determine what policies and strategies China will adopt."

"China market is vast and fast changing and there is still a lot of space for new comers if they are able to differentiate and win through either efficiency or better customer experience," he added.

"China is wise to continue its opening up ... And the world has benefited greatly from China's opening up," said William Jones, Washington bureau chief of the US publication Executive Intelligence Review.

"China hopes to maintain a stable military-to-military relationship with the US," Li said. "But the antagonistic attitude toward China and Russia that the US military has cultivated in recent years will not likely change." 

"China never imposes its own will onto other countries," said Rao.