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"China-US relationship is one of the most important bilateral relations in the world, for which economic and trade cooperation is the most active and lasting driving force," Hong said.

"Continuous innovation is also needed, because the society is evolving at a very fast pace in China," Crozier said.

"China's scale dividends are likely to be an important driver of improving the total factor productivity over the next five to 10 years," said Shen Minggao, chief economist at GF Securities, who noted more efforts are needed to drive the transformation and upgrading of the traditional manufacturing industry, enhance its efficiency, as well as improve total factor productivity, in a bid to maintain a relatively rapid GDP growth.

"Customers want smart cars for a smart world, and Chinese customers are quick to embrace new technologies and electric cars are going to be a preferred choice," the executive chairman said.

"Companies do this in a strategic manner. There is no sudden closing of plants in China and haphazard opening of other ones in new countries. Companies who do this, in fact, don't tend to close their China operations at all. It is all part of their long-term planning," he said.