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China has very tight policies on approval of GMO products that can be sold for consumption. Most approved GMO products available on the domestic market are imported, Wang said.

China has realized "the most rapid large-scale poverty reduction in human history over the last 25 years," said a 2016 World Bank document, which was released after the World Bank's one-year research of worldwide poverty reduction efforts in partnership with the Chinese government.

China is in the middle of capacity cuts in coal and steel sectors. Last year's annual targets to slash steel capacity by around 50 million tons and coal by at least 150 million tons were fulfilled in August and October, respectively.

China has undertaken a massive campaign against corruption since the current top leadership was elected in late 2012 at the 18th CPC National Congress. More than 100 officials above ministerial level have been probed for corruption since then.

China has set the tune of its monetary policy in 2017 as prudent and neutral, keeping an appropriate liquidity level but also avoiding excessive liquidity injections.