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China's structural reforms also come with pain. China will have to relocate 500,000 laid-off workers from glutted industries such as steel and coal, an arduous task requiring determination and intelligence.

China, he said, always maintains that African affairs should be decided independently by the African people and Africa's path of development should be determined independently by the African people.

China's securities brokerages were among the top pay masters in the private sector. This helped attract financial talent. However, since 2016, they have lost a bit of their sheen as IPO regulations tightened to avoid financial risk. This, in turn, affected the fortunes of brokerages, market insiders said.

China's total retail sales of consumer goods reached 29.7 trillion yuan in the first 10 months of last year, up by 10.3 percent year-on-year, according to official data. Consumption expenditure during that period contributed about 64.5 percent of economic growth.

China's vast market has a huge number of internet users and diversified internet applications. Coupled with improving technological innovation capacity, it gives the country's internet industry sustainable growth potential and provides tremendous allure to global capital, Li explained.