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China's tourism revenue rose by 10.5 percent year-on-year to 5.97 trillion yuan (6.5 billion) in 2018, with over 79.9 million people working in tourism and related industries.

China, together with Thailand and other Mekong countries, will try the best to set the mechanism an example for regional cooperation and South-South Cooperation, Wang stressed.

China's tighter regulation on shadow banking will likely make private equity investment a more attractive financing option for local Chinese firms that face limited access to direct financing, Marchick added.

Chinese Ambassador to South Africa Lin Songtian said Hisense's portfolio and investment in South Africa have seen good results from comprehensive strategic partnership, and people-to-people exchanges between the two countries. The company benefits from the local investment environment and governmental support, and brings substantial benefits for local residents, he said.

China's push to cultivate innovation-driven growth will inject new life into the country's real economy and fuel the integration of cutting-edge technologies with manufacturing, experts said.