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"China has taken a step ahead in industrial transformation, but the room for cooperation is huge," Chen said.

"China has embraced mobile payments faster than any other country, and will continue to lead the global charge in this regard," said Vishal Bali, managing director of Nielsen China. "Mobile payment is on the rise globally, and will continue to support greater connectivity and efficiency across the commercial ecosystem."

"China has entered a new era of consumption. Chinese consumer market is being reshaped, especially by the middle and affluent classes with strong purchasing power.

"By Thursday all of those interstate crews should have rotated out and gone home," Crawford said.

"China continues to transition to a more sustainable growth path and reforms have advanced across a wide domain," the executive board of IMF said in a statement after concluding Article IV consultation with Chinese authorities on the Chinese economy.