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"Cost reduction measures are an important part of the country's supply-side structural reform and will help effectively raise the vitality of the corporate sector," Pan Jiancheng, an official of the National Bureau of Statistics, told Xinhua.

"Chinese bearing companies should have the confidence in producing high- and middle-end products."

"Chinese people have benefited a lot from the reform and opening-up, but they should not rest on the laurels of 40 years ago. Rather, they should work even harder to face new challenges," said Jin.

"China's role in the digital economy is no longer a question, I am quite impressed by the country's openness, a role that will increasingly shape the century," said Fadi Chehade, co-chair of the advisory committee to the World Internet Conference.

"Chinese herbs, TCM services and even the culture have attracted more attention in CEE countries," she said.