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"China's steel and iron sector has been experiencing a sluggish market this year. Producers should step up efforts to reduce costs and seek new revenues," Wang of the Lange Steel Research Center said.

"China's relative successes in dealing with two major global crises in the past dozen years certainly stand in sharp contrast with the approach of other leading nations," he said.

"Considering the environmental protection and local conditions, we decided to make tourism one of our pillar industries," said Kan Jilin, Party chief of the county.

"China's financial sector will be much more competitive, our capital markets will continue to enjoy healthy development, the building of a system of modern industries will be accelerated, our market environment will be greatly improved, and intellectual property rights will be effectively protected. In short, China will enter a new phase of opening-up," she added.

"China's consumer market has begun to show signs of recovery. Driven by a number of government policies aimed at spurring consumption, the retail industry continues to improve and new consumption momentum has emerged," said Sargent.