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China has also undertaken market deepening initiatives that incentivize the private sector and stimulate its further development. Gupta said this also serves as "an automatic economic stabilization mechanism for the broader economy when the state sector is unable, due to budgetary tightening, to make the necessary public investments."

China has become and will continue to be a major driving force of inclusive global growth, with the Belt and Road Initiative to be a new platform of globalization with mutual benefits, said experts from home and abroad.

China has billed its investments in Africa as part of its "going global" initiative with locally-based enterprises now finding niche markets abroad, including in Kenya.

China has been striving to upgrade its industrial structure and shift its economy to a growth model that draws strength from innovation as its competitive advantages in low labor and raw material costs are eroded.

China has had the world's largest car market for eight consecutive years. About 28 million cars were sold in China in 2016, up 13.7 percent year on year thanks to preferential purchase policies and other government measures, according to the Ministry of Commerce (MOC).