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"China has been pushing the digital Silk Road and sharing the benefits brought by digital transformation," said Lin Nianxiu, deputy director of the National Development and Reform Commission. "We have signed cooperation agreements with over 16 countries in the building of the digital Silk Road, and launched the Belt and Road Digital Economy International Cooperation Initiative with seven countries."

"China has maintained its growth resilience and gained reform momentum," said John Litwack, World Bank lead economist for China. "The authorities have undertaken a host of policy and regulatory measures aimed at reducing macroeconomic imbalances and limiting financial risks without notable impact on growth," Litwack said, adding that this year has been a "successful" year for the world's second-largest economy "on many fronts".

"China has been fortunate that it has been able to maintain phenomenal growth in its economy so that over a period of years every sector has seen significant benefits," he said.

"China is heavily engaged in handling financial deleveraging reform, which includes the reducing of corporate debt, especially for the State-owned ones with overcapacity," said Iris Pang, an economist with banking group ING.

"But working at a nearby factory is one way to crack that nut. After doing market research, I found making handmade shoes would be a win-win solution as most women here are good at knitting shoes."