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Commenting on the country's economic development in the first half of the year, Xi said the economy maintained steady growth with a positive outlook, deepened structural adjustment, and better-than-expected performance in major indicators.

Companies like Alibaba have become global names, Wang said.

Communication with other countries is also needed before launching new policies or introducing creative monetary policy tools, and “the PBOC has good communication mechanisms with other central banks including the US Federal Reserve and the European Central Bank”, Sun said.

Cohen spoke Wednesday at a panel discussion for SCOPE Miami Beach, a contemporary art fair held annually in New York City, Basel, Switzerland, and Miami Beach. The panel was part of FOCUS | ART CHINA, a new premier program featuring Chinese contemporary art by SCOPE.

College graduates hand in resumes at a job fair in Heihe, Heilongjiang province, on Nov 19. [Photo by Qiu Qilong/For China Daily]