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"Growth continues to improve in terms of structure and quality, indicating that China has made strong progress in rebalancing the economy," said Zhou, who stressed that the financial regulator's battle to lower the debt burden had shown some results but was still in the "early stages".

"From the perspective of the formulation of 5G standards and the development of 5G networks and applications, the flourishing of the mobile communication industry is impossible without the open mind and win-win attitude of industry players worldwide," said Ericsson China President Zhao Juntao.

"From the perspective of protecting market players, we will be able to protect the bedrock of the job market with measures to ensure the survival of private businesses."

"Government investment in infrastructure projects could attract follow-up private investments by giving investors the expectation of better operational sustainability and credit endorsement", said Zeng Kanghua, a public finance professor at the Central University of Finance and Economics.

"Fundamentally, there is still a strong demand," McQuade said.