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"During the process of deepening supply-side structural reform in the financial sector, the CBIRC kept improving the efficiency of financial resource allocation, strengthening credit support to key areas and weak links in the economy, and stepping up the efforts to serve the real economy. At the same time, the regulator better integrated the prevention and mitigation of financial risks with its support for the real economy, promoting a virtuous circle in finance and the real economy," said Liu.

"During the process, we also realized that companies need to improve quality to gain momentum when facing fierce competition in global markets," said Zheng Fuyao, assistant to chairman of Fujian Dehua Hiap Huat Koyo Toki Co Ltd.

"Efforts to transform traditional industries and nurture emerging sectors are of significance to China," said Wang Peng, deputy president of the China Center for Information Industry Development, a government think tank.

"Even though COVID-19 has added a number of unstable factors to the global economy, we were able to witness China's quick recovery from the pandemic and the great resilience of its people, which makes us more confident about this market," said Zheng Dazhi, Asia-Pacific president of Bosch Thermotechnology, a German manufacturer of energy-efficient heating and hot water products.

"Even though we have managed robust sales in China so far, we found that Chinese customers are incredibly inquisitive and hungry for information. They want to embrace new technologies and are fairly open to disruptive products," he said. "Therefore, we must act fast to seize all the market opportunities to retain robust growth."