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China only meets the first criteria by running over billion of trade surplus with the United States, said Zhu Jianfang, chief economist with the Citic Securities.

China spearheads the world in internet development and mobile innovations. For instance, new e-commerce platforms are emerging in the country and have become an important online sales channel, he noted.

China should deepen the supply-side structural reforms, achieve enterprise transformation through real market demand and promote the survival of the fittest to form a benign market, instead of relying too much on the policy incentives, Yao said.

China will continue to accelerate the push for improving its business environment in an effort to spur high-quality economic development amid mounting downside pressure and uncertainties, the country's top economic regulator said on Friday.

China signed 13 cooperation documents with Cambodia on Tuesday in areas such as infrastructure, finance, maritime research and tourism as the two countries moved forward to build the Belt and Road.