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"China's remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty," said Hoon S. Soh, World Bank program leader for economic policy for China.

"China's economy stabilized in the first quarter of 2019, better than expected, and will hopefully achieve stable growth for the whole year… The banking sector will continue to step up the efforts to dispose of nonperforming loans and will keep pressing ahead risk prevention and control in key areas," said Liu Zhiqing, deputy director-general of the statistics IT and risk surveillance department of the CBIRC, the country's top banking and insurance regulator.

"Competition has also risen, as new drugs have a limited window of opportunity to be profitable before an enhanced and more improved version of the same product is introduced by a competitor," Feldman said.

"China's tourism industry is entering a period of high-quality development, marked by market-oriented demand," said Yang Jinsong, a researcher at the China Tourism Academy.

"China's audiovisual market is growing rapidly. But now many video platforms are becoming more and more similar to one another which makes them more challenging to user numbers and advertising revenue," said Wei Pengju, director of the Institute of Cultural Economics at the Central University of Finance and Economics in Beijing. Companies in the audiovisual sector are certainly aware of the challenges and are actively seeking solutions. The Xigua video app now targets the new mid-sized video sector to win more users.