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"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.

"China's ability in controlling the outbreak has been the envy of many. From the perspective of developing countries, it is truly remarkable," he said.

"Chinese customers have higher demands of intelligent appliances. After all, the average age of Chinese customers is more than 10 years younger than developed countries."

"Competition will create new markets and provide more services. The participation of Chinese SOEs will inject vitality into international markets and result in more opportunities for cooperation with world-class international firms," he said.

"China will continue to abide by WTO rules. We hope the United States respects and obeys WTO rules with practical actions, and safeguards the multilateral trading system with the WTO as its core," Hua said.