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Before the U.S. subprime mortgage crisis in 2007, though the global economy was on a strong rise with steady inflation, skyrocketing stock markets and house prices sowed the seeds of the crisis.

Zhong said that China will host the first China International Import Expo in Shanghai in November of 2018, which is a big step for China to promote economic globalization and open up its market as well as a public good that it provides for inclusive and mutually-beneficial global growth.

Jeremy Rifkin, an economic observer and author of the New York Times bestseller "The Third Industrial Revolution," said China was becoming a global leader in the new revolutionary tide.

"[We should] guide and stabilize expectations, improve people's lives and secure continuous and healthy socio-economic development," it said.

More efforts should be put in place to improve education, health and elderly care, housing as well as environment protection to make the people feel happier and more secure, according to Li.