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"Customers will see more luxury automakers following suit. It's essentially a reaction to the lowered VAT rate," said Ron Zheng, a Shanghai-based partner with consultancy Roland Berger.

"China's current risk level for local government debt is under control," Liu said. "But we have to take measures to defuse potential risks to maintain sustainable fiscal financing."

"Creating long-term productive assets requires wise and patient capital - a difficult challenge, and this is the reason that there is such a vast global deficiency in infrastructure investment. So Chinese capital and know-how are very important to fill this gap," he said.

"China represents a tremendous opportunity, given its significant market size, abundance of unmet clinical needs and active entrepreneurship landscape. Establishment of this Medtronic med-tech innovation accelerator forms another bold step to continue to advance innovation through collaboration," said Omar Ishrak, Medtronic chairman and CEO.

"Currently, there is a global trend toward easing financial regulation, which may give a new boost to 'shadow banks', and we need to pay more attention to that," he said.