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"Consistent with these plans, the country's ongoing and necessary rebalancing process implies lower future growth," he said.

"Creating a business environment with more respect and protection for intellectual property is going to be very important. We can engage much more, with a higher safety level when intellectual property is better respected here," said Christiansen.

"China's economic growth has undergone profound changes in the post-crisis era," he said. "The ratio of consumer spending to GDP has been on the rise for eight consecutive years."

"China's online consumption surged significantly despite the coronavirus impact, effectively meeting the daily needs of residents and helping to promote the steady recovery of the economy," Gao added.

"China's economy is back-ish and the world can exhale. Without this rebound, the nascent global recovery would be on even thinner ice," Bloomberg said in an opinion piece.