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"China's recovery is encouraging, but it is far from being a 'mission accomplished'," said Shaun Roache, chief economist for Asia-Pacific at S&P Global Ratings. "Stimulus-driven demand has not yet handed over to private consumption as the driver of growth and, until it does, China's recovery will remain unbalanced and vulnerable to shocks."

"Currently the most important event in our bilateral relations is President Trump's China visit in November," Xi said. "His visit will be a major opportunity for the development of China-US relations."

"Considering the fact that government expenditures on social security accounts are more than 20 percent in some countries, such as the United States and Germany, China still has potential to invest more," he said.

"China's market comprises many rapidly growing businesses that are less encumbered by legacy IT systems than is typical in more developed markets, which means they can more easily adopt new IT models," said Kevin Meehan, a partner at Bain.

"China's audiovisual market is growing rapidly. But now many video platforms are becoming more and more similar to one another which makes them more challenging to user numbers and advertising revenue," said Wei Pengju, director of the Institute of Cultural Economics at the Central University of Finance and Economics in Beijing. Companies in the audiovisual sector are certainly aware of the challenges and are actively seeking solutions. The Xigua video app now targets the new mid-sized video sector to win more users.