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"The 40th anniversary is an opportunity to shed light on the amazing things that China has accomplished," said Dawn Nakagawa, executive vice president of the Berggruen Institute, a think tank.

It is hoped that as the two leaders exchanged new year's greetings over the phone, such an auspicious start may bring about a new look for China-U.S. relations.

Liu, of Sino-Crystal, said that man-made diamonds might not cannibalize sales of mined diamonds, but that market alone boded well for Chinese manufacturers.

Incentives will also be raised for medical professionals working at grassroots-level hospitals. Individuals who are impoverished by major or chronic diseases could be further compensated, Hu said.

From his perspective, it was China's accumulation of construction and operating experience that made a difference.