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China's deliberation period for its new five-year plan (2021-25) — the country's policy blueprint for medium-term social and economic development — kicked off on Monday. Check out some of the Hong Kong Special Administrative Region's major achievements, made throughout the 13th Five-Year-Plan period (2016-20) according to data from the SAR government.

China's economic hub Shanghai will assume greater role. The master plan highlighted accelerating the building of the new section of the Shanghai pilot free trade zone. The section will work on introducing liberalization of investment, trade, funding, transportation and employment, and align its opening up with the world's most competitive free trade parks.

China's highly specialized industrial clusters and very good infrastructure are an essential part of the global supply chains that have increased world productivity over the last few decades. This type of globalization has been a boon to the world.

China's growth may need to be around 6 percent next year to achieve its goal of doubling its 2010 GDP by 2020, Niu said. "There's still some room for China to take countercyclical measures to stabilize growth," he said.

China's non-financial outbound direct investment or ODI will rise in the second half of this year on strong global economic growth, said an expert on Wednesday.