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"But we know that mistrust remains high, and that it is difficult to move to implementation," Guterres said.

"China is taking the initiative to reduce production capacity based on its own national conditions. The efforts are to make the growth model and economic structure move to new economic drivers," he added.

"Central and local government borrowing is beginning to reach its limits, so this is probably the right way to go. His message on quantitative easing will also perhaps alleviate some market concerns."

"By 2020, technologies including 5G and cloud computing are expected to embrace an explosive growth in China. It will bring a new round of growth in server businesses in the market," said Duan Meng, a senior analyst from market consultancy IDC.

"By capitalizing on the country's favorable policies, Hong Kong is set to make significant accomplishments in the Greater Bay Area," he said while attending a celebration in Guangzhou on Sunday.