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China has been transitioning to a more consumer-based economy (from an infrastructure driven one) very successfully over the past five years. By opening up the market, China will help stimulate world growth and bring a range of innovations to the globe that have not been tapped before, Meacock said.
China has been the board's largest investment destination outside the US in terms of public relations, advertising and consumer education, said Waycott. Last year, it started to work with Chinese retail brands including California Field, Be & Cheery and Qiaqia, and will extend its cooperation to Bestore and Tongnianji in 2017.
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 also contributed internationally by encouraging the Chinese sea transportation and civil aviation industries to participate in international efforts to combat illegal trade. It has also reminded Chinese companies and individuals in African countries not to participate in illegal ivory trade, he said.
China has been ratcheting up efforts to revamp the telecom sector, which has long been dominated by State-owned players. Last year, China Unicom pressed ahead with its 78 billion yuan mixed-ownership reform by attracting Alibaba, Tencent, Baidu and other companies as investors.
来源：资阳报