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China has made unprecedented efforts to deepen reforms and boost opening-up, and China's development has provided a promising future for foreign investment, they said.

China approved the preparation application by a joint venture with American Express for setting up a bank card clearing and settlement institution last November, a step forward in the country's financial opening-up.

China does not need to follow suit by raising its interest rate, said Yu Yongding, former member of the monetary policy committee of the People's Bank of China. "China needs to keep its interest rates stable," said Yu, an economist of the Chinese Academy of Social Sciences. "China has been able to resort to capital flow management to absorb the effect of the US interest rate hike, and the hike has been priced in by the market."

China has been an active facilitator in this sector. Its efforts, such as promoting training for workers to improve their skills and learning capability, are essential to more sustainable industry development, she said.

China decided in June to set up five pilot zones for green finance, and the central bank is expected to include green credit in its macro-prudential assessment to encourage financing for green projects.